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2012 (9) TMI 1095 - HC - Income TaxTrust - exemption u/s 11 - whether letting out the auditorium to other parties and part of the premises constitute charitable purpose? - Held that: - the assessee used to charge market rates while hiring or letting out auditorium - Apart from hiring of the auditorium, the assessee received rents on account of letting out some portion of its premises to M/s Benett and Coleman. That cannot be termed as unreasonable - In view of the fact that the previous orders in which the claim for the assessee to be a charitable trust was upheld, we do not see any reason to interfere with the impugned order in this aspect. - appeal dismissed - exemption allowed - decided against Revenue.
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