https://www.taxtmi.com/caselaws?id=64990 The Tribunal allowed the appeal of the Apparel Export Promotion Council, directing the Assessing Officer to re-compute the income considering the Council as a public charitable institution. The Tribunal excluded the forfeited Earnest Money Deposit (EMD) amount from taxable income and ordered a re-determination of the taxability of entrance fees. It emphasized the Council's charitable status and primary objective of promoting exports, rejecting the revenue authorities' view that its activities were commercial in nature. en-us Mon, 08 Apr 1996 00:00:00 +0530 Fri, 11 Feb 2011 15:22:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64990 The Tribunal allowed the appeal of the Apparel Export Promotion Council, directing the Assessing Officer to re-compute the income considering the Council as a public charitable institution. The Tribunal excluded the forfeited Earnest Money Deposit (EMD) amount from taxable income and ordered a re-determination of the taxability of entrance fees. It emphasized the Council's charitable status and primary objective of promoting exports, rejecting the revenue authorities' view that its activities were commercial in nature. Case-Laws Income Tax Mon, 08 Apr 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64990