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2006 (2) TMI 108 - HC - Income TaxScope of 13(1)(bb) - charitable trust - "1. Whether, Tribunal was right in holding that section 13(1)(bb) would not apply to the trust although it was carrying on business? - requirement of section 13(1)(bb) is that the exemption under section 11 will not be available to such a trust that carries on any business unless the business is carried on 'in the course of the actual carrying out of the primary purpose of the trust', - business is held by the trust as a part of the corpus and hence, the trust did not directly accomplish any object or did not carry on in the course of the actual accomplishment of its objects - we answer the questions of law in favour of the Revenue and against the assessee
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