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2024 (4) TMI 595 - AT - Income TaxExemption u/s 11 - Charitable activity u/s 2(15) - AO has treated that the activities of the trust as commercial activity by invoking the proviso to section 2(15) - HELD THAT:- As relying on decision by the Co-ordinate Bench in assessee’s own case [2024 (3) TMI 944 - ITAT KOLKATA] we are inclined set aside the order of ld. CIT(A) and further uphold that the assessee is entitled to exempt u/s. 11 of the Act during the year on the ground that the profit derived from the services rendered as public utility service is very meager or there is deficit. Accordingly, the AO is directed to allow the exemption u/s. 11 of the Act. Appeals of the assessee are allowed.
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