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Income Tax - Highlights / Catch Notes

Home Highlights August 2023 Year 2023 This

Assessment of trust - healthcare / medical services - surplus ...

Income Tax

August 10, 2023

Assessment of trust - healthcare / medical services - surplus out of Pharmacy store - charitable activity u/s 2(15) - the income accrued from Pharmacy store is incidental to the dominant object of running Hospital by the Assessee, hence, the action of the AO is not justified in treating the Pharmacy store of the Assessee as separate business entity and the profits therein as taxable income. - AT

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