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2013 (3) TMI 484 - HC - Income TaxCharitable purposes U/s 2(15) of the Income-tax Act - Amendment to the clauses of the trust deed - Benefits of U/s 11 - Exemption U/s 10(22) of the Income-tax Act - Violation of the provisions of sec. 11(5) and sec. 13(1)(c) of the Income-tax Act - Held that :- It cannot be said to be commercial ventures as held by the Commissioner of Income-tax. To argue that the trust exists for the benefit of a few members cannot be accepted as there has been an amendment in the memorandum of association as noticed supra. The assessee herein was running educational institutions and to aid spreading of the education and update the syllabus and other related educational aspects, two magazines were started by the assessee or their sister concern. They are incidental and ancillary to the main activities of the trust. Therefore, has to be answered in the negative in favour of the assessee and against the Revenue.
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