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2017 (7) TMI 1228 - HC - Income TaxEntitled for exemption u/s 11 - Held that:- Assessing Officer has simply observed that Assessee, since engaged in business of manufacturing and sale of artificial limbs, is earning profit, but has completely ignored the fact that Assessee is a company registered under Section 25 of Companies Act, 1956 as 'non-profit marketing entity'. In furtherance of objects of Assessee of making available artificial limbs to needed persons and without earning any profit Assessee was declined exemption and this has been indicated by both appellate authorities by recording a concurrent findings against Revenue. In absence of anything to show against concurrent findings recorded by appellate authorities, in our view, no question, what to say substantial question, has arisen in this appeal. Hence, appeal deserves to be dismissed at admission stage itself.
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