Overlapping GST proceedings require Central and State authorities to designate one competent authority for coordinated adjudication of the same matter...
Composite healthcare supplies retain exemption when patient care is the contract's essential character, despite payment through an implementing agency...
Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
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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