Tax determination against deceased proprietor invalid where no notice to legal representative; appeal rejected without addressing jurisdictional defec...
Revocation of GST registration and permission to file blocked returns; conditional defreezing of bank accounts after security and instalment applicati...
Right to access seized electronic evidence: impugned adjudication treated as additional show cause notice, remand for fresh hearing and return of mate...
The ITAT held that the proviso to section 2(15) applies only when an advancing general public utility carries on trade, commerce or business activity, to be assessed on the overall factual matrix by the dominant purpose test. Here, the Assessing Officer relied mainly on the nature and quantum of receipts without examining the trust objects or application of income. Rental income from property held under trust and interest from permitted investments was treated as incidental, not independent business income. As the activities were genuine, in furtherance of trust objects, and most income was applied to those objects, the proviso was not attracted and exemption under section 11 was allowed; consequential additions and disallowances were deleted.
The ITAT held that the proviso to section 2(15) applies only when an advancing general public utility carries on trade, commerce or business activity, to be assessed on the overall factual matrix by the dominant purpose test. Here, the Assessing Officer relied mainly on the nature and quantum of receipts without examining the trust objects or application of income. Rental income from property held under trust and interest from permitted investments was treated as incidental, not independent business income. As the activities were genuine, in furtherance of trust objects, and most income was applied to those objects, the proviso was not attracted and exemption under section 11 was allowed; consequential additions and disallowances were deleted.
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