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2013 (12) TMI 357 - AT - Income TaxRegistration u/s 12AA – The assessee company was registered under section 25 of the Companies Act, 1956 with the object of education, social and economic empowerment - Held that:- As per the Circular No. 11 of 2008 dated December 19, 2008 - where the purpose of a trust or institution is relief of the poor, education or medical relief, preservation of medical environment or preservation of historic monuments, it will constitute charitable purposes even if it incidentally involves commercial activities – The object clause of the company shows that it has been incorporated with the aim of providing education, facilitate social and economic empowerment, economic development programs, literacy programs, training programs for villagers and downtrodden people - The application cannot be rejected merely on the assumption that commercial activity will be carried out - Decided in favour of assessee.
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