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2016 (5) TMI 1175 - AT - Income TaxExemption u/s 11 - charitable purposes - business activity incidental to the attainment of objectives of the trust - the words "not involving the carrying on any activity for profit" were dropped from section 2(15). - Held that:- As long as broader public cause is served, whether by the State funding or by efficient regulation of the affairs, it is an object of general public utility. It is also important to bear in mind that costs of proper development of area are also costs incidental to the plots and units sold by the assessee and, therefore, these two things should not be seen in isolation The authorities below were not justified in declining the benefit of section 11 read with section 2(15) to the assessee, and in holding that the assessee-trust was not covered by advancement of any object of general public utility. We, therefore, direct the Assessing Officer to delete the disallowance of exemption - Decided against revenue
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