https://www.taxtmi.com/caselaws?id=217730 The ITAT dismissed the Revenue's appeal, affirming the CIT(A)'s decision to grant the benefits of sections 11 and 12 to the charitable society. The investments in mutual funds were deemed compliant with the Act, directed towards charitable purposes, and not considered business activities. The ITAT emphasized that the frequency of transactions alone does not alter the nature of the activity, particularly when aimed at enhancing charitable resources. The decision rested on consistency and lack of opposing evidence from the Revenue. en-us Thu, 19 Jul 2012 00:00:00 +0530 Thu, 20 Sep 2012 12:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217730 The ITAT dismissed the Revenue's appeal, affirming the CIT(A)'s decision to grant the benefits of sections 11 and 12 to the charitable society. The investments in mutual funds were deemed compliant with the Act, directed towards charitable purposes, and not considered business activities. The ITAT emphasized that the frequency of transactions alone does not alter the nature of the activity, particularly when aimed at enhancing charitable resources. The decision rested on consistency and lack of opposing evidence from the Revenue. Case-Laws Income Tax Thu, 19 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217730