https://www.taxtmi.com/caselaws?id=65374 The Tribunal concluded that the assessee-society's activities, including running a school, were charitable under section 2(15) of the Income-tax Act, 1961. The fees collected were deemed income from property held under trust. However, due to the commercial nature of operations, the Tribunal remanded the case to the AO to determine if separate books of account were maintained, assessing the applicability of section 11(4A). The Tribunal directed a fresh assessment to ascertain if the net profit from the schools qualifies for exemption under section 11(1)(a), contingent upon compliance with section 11(4A). The revenue's appeal was allowed for statistical purposes. en-us Fri, 27 Oct 2006 00:00:00 +0530 Mon, 04 Mar 2024 18:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65374 The Tribunal concluded that the assessee-society's activities, including running a school, were charitable under section 2(15) of the Income-tax Act, 1961. The fees collected were deemed income from property held under trust. However, due to the commercial nature of operations, the Tribunal remanded the case to the AO to determine if separate books of account were maintained, assessing the applicability of section 11(4A). The Tribunal directed a fresh assessment to ascertain if the net profit from the schools qualifies for exemption under section 11(1)(a), contingent upon compliance with section 11(4A). The revenue's appeal was allowed for statistical purposes. Case-Laws Income Tax Fri, 27 Oct 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65374