https://www.taxtmi.com/caselaws?id=237138 The HC held that a charitable trust's activities conducted on non-commercial lines without profit motive remain exempt under Sections 11 and 12AA, despite earning some profits. Mere profit from sales does not invoke the proviso to Section 2(15) to deny exemption. The registration certificate under Section 12AA cannot be disregarded by the AO without valid grounds. Proceedings initiated under Section 148 without first completing assessments under Section 143(2) were invalid. The trust's activities were genuine and charitable in nature. The exemption was upheld, and the decision favored the assessee. en-us Mon, 16 Sep 2013 00:00:00 +0530 Mon, 04 Aug 2025 14:52:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237138 The HC held that a charitable trust's activities conducted on non-commercial lines without profit motive remain exempt under Sections 11 and 12AA, despite earning some profits. Mere profit from sales does not invoke the proviso to Section 2(15) to deny exemption. The registration certificate under Section 12AA cannot be disregarded by the AO without valid grounds. Proceedings initiated under Section 148 without first completing assessments under Section 143(2) were invalid. The trust's activities were genuine and charitable in nature. The exemption was upheld, and the decision favored the assessee. Case-Laws Income Tax Mon, 16 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237138