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TMI Blog2004 (11) TMI 81X X X X Extracts X X X X X X X X Extracts X X X X ..... 004 and June 14, 2001, of the Income-tax Appellate Tribunal, Madras "A" Bench, made in I.T.A. Nos. 1972/Mds/1997 and 316/ Mds/1997, respectively, with reference to the assessment years 1994-95 and 1993-94. The brief facts, relevant for the disposal of these appeals are as under: The assessee/trust claimed exemption under section 11 of the Income-tax Act (for brevity "the Act") stating that since ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ome-tax (Appeals), the Revenue preferred appeals before the Tribunal. The Tribunal, following an order of the "A" Bench of the Tribunal in the assessee's own case for the assessment years 1988-89 and 1989-90, wherein it was held by the Tribunal that the assessee was a charitable trust eligible for exemption under section 11 of the Act, dismissed the appeals of the Revenue. Hence, the Revenue has p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ectives of the trust, viz., for charitable and religious purposes, the exemption granted under sections 11(1), 11(2), 11(3) and 11(3A) shall not be applied in relation to any income of the said trust or institution. It is true that a Division Bench of this court in Thanthi Trust v. CBDT [1995] 213 ITR 639, held that inasmuch as the business carried on by the assessee was itself held under trust f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n than the scope of the sub-section before the amendment. As it stands amended in 1992, all that is required for the business income of a trust or institution to be exempt from tax is that the business should be incidental to the attainment of the objectives of the trust or institution. A business whose income is utilised by the trust or the institution for the purposes of achieving the objectives ..... X X X X Extracts X X X X X X X X Extracts X X X X
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