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2018 (5) TMI 1881 - AT - Income TaxExemption u/s 11 & 12 denied - charitable activity or not? - Assessee trust is receiving fee and charges from the universities and selling text books to the students - assessee trust is only publishing and selling text book and reading material which is being supplied to the students only.- HELD THAT:- When predominant activities of the assessee trust are promotion of education & sports activities and its major source of income is grant from the Ministry of HRD and Ministry of Youth Affairs and Sports, membership fees from the universities etc., no ground is made out to invoke the proviso to section 2 (15) of the Act. Moreover, it is the admitted case of the Revenue that the assessee trust is only publishing and selling text book and reading material which is being supplied to the students only. So, merely receiving fee and charges from the universities and selling text books to the students do not amount to entering into trade, commerce and business activities, particularly when the assessee trust is being run on the basis of the grants by the Government of India and on the basis of fee being collected from universities and its members. We are of the considered view that the ld. CIT (A) has passed well-reasoned order in the light of the settled proposition of law in the case cited as Delhi Music Society vs. DGIT – [2011 (12) TMI 124 - DELHI HIGH COURT] , CIT vs. Doon Foundation [1985 (1) TMI 36 - CALCUTTA HIGH COURT] . - Decided against revenue
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