TMI Blog2011 (7) TMI 1206X X X X Extracts X X X X X X X X Extracts X X X X ..... law raised by the revenue in this appeal read thus : 1) Whether in the facts and circumstances of the case and in law, the Tribunal is right in allowing the exemption U/s 11 of the Act? 2) Whether in the facts and circumstances of the case and in law, the income derived from conducting the exhibitions is taxable as business income or entitled for exemption U/s 11 of the Act as the sa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ould be maintained. The Tribunal has already held that the activities of the assessee for exhibition are incidental to the objectives. In para 5 of assessment order it is so mentioned that separate books of accounts for exhibition are maintained by the assessee. I, therefore, find that all the conditions U/s. 11 (4A) are satisfied. The assessee is entitled for exemption u/s. 11 on exhibition of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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