Exemption u/s 11 - mutual trade association having the main ...

Assessing Officer Misapplies Section 2(15), Incorrectly Denies Tax Exemption to Trade Association Lacking Profit Motive Evidence.

October 14, 2020

Case Laws Income Tax AT

Exemption u/s 11 - mutual trade association having the main object to safeguard the interest of the industry and trade - Assessing Officer erred in invoking proviso to Sec. 2(15) to treat the activities of the assessee as being non-charitable specifically considering the fact that no material or evidence has been led to show that there was any profit motive in carrying out such activities. - AT

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Exemption u/s 11 - mutual trade association having the main ...

Assessing Officer Misapplies Section 2(15), Incorrectly Denies Tax Exemption to Trade Association Lacking Profit Motive Evidence.

October 14, 2020

Case Laws Income Tax AT

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