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TMI Blog2015 (10) TMI 2417X X X X Extracts X X X X X X X X Extracts X X X X ..... ated u/s. 25 of the Companies Act as a non-profit making institution. The company filed an application for registration u/s. 12A of the Act in the prescribed form No. 10A on 26.3.2013. 3.1. While going through the application, the DIT(Exem.) observed that the main object of the company is to promote , develop and protect the interest of those in the business of distribution of technology products. The DIT (Exem.) was of the firm belief that this object of the company is not meant for the benefit of the public but for the benefit of its members only. The DIT further observed that the applicant company has non-charitable/commercial objects. The assessee was asked to show cause as to why in view of its mixed commercial objects, its applicatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orities below. We have also gone through the decisions of the Hon'ble Supreme Court referred to by the Ld. Counsel. The main object of the company to be pursued by the company on its incorporation read as under: "To promote, develop and protect the interest of those in the business of distribution of technology products including but not restricted to computers, software, peripherals, networking products, mobility products, components, consumables, accessories or any other technology products and related services and also to promote honourable practices in the trade and to do all such activities which will generally help in development of business of distribution of such technology products and related services. No object of the company s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ar engaged in trade, commerce or manufacture in India and in particular the Andhra Desa. (d) To do all such other things as may be conducive to the preservation and extension of trade, commerce, industries and manufactures or incidental to the attainment of the above objects or any of them. Clauses (e) to (x) are incidental to the principal objects". 9.1. On the aforementioned objects, the Hon'ble Supreme Court observed as under: "The principal objects of the assessee are to promote and protect trade, commerce and industries and to aid, stimulate and promote the development of trade, commerce and industries in India or any part thereof. By the achievement of these objects, it is not intended to serve merely the interests of the membe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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