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2016 (2) TMI 1151 - AT - Income TaxDisallowing exemption u/s 11 - appellant has not followed its objectives in letter & spirit without specifying any basis that objective of the appellant falls in the proviso to Sec. 2(15) i.e. appellant is carrying on activity in the nature of trade, commerce or business - Held that:- Since as stated above the facts in the present case are identcial to that in the case of Hoshiarpur Improvement Trust (2015 (9) TMI 902 - ITAT AMRITSAR), respectfully following the same we hold that the assessee trust is carrying out charitable activity of advancement of public utility and the business activity carried out by it are incidental to the attainment of its main object and thus the proviso to section 2(15) is not attracted in the assessee case. We therefore hold that the assessee is entitled to claim exemption u/s 11. - Decided in favour of assessee.
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