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2018 (7) TMI 2147 - PUNJAB AND HARYANA HIGH COURTExemption u/s 11 - assessee was carrying on business of sale and purchase of residential plots and commercial properties by auction and earned huge net profit during the year under consideration, which was in the nature of trade, commerce and business and did not fall within the meaning of words “the advancement of any other object of general public utility” u/s 2(15) - HELD THAT:- Appellant-revenue did not dispute that the issues raised in this appeal are covered by the decision of this Court in The Tribune Trust Vs. Commissioner of Income Tax and another and Commissioner of Income Tax (Exemption) Vs. Improvement Trust, Moga [2017 (1) TMI 53 - PUNJAB AND HARYANA HIGH COURT] where the similar issues have been decided against the revenue and in favour of the assessee.
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