https://www.taxtmi.com/caselaws?id=253271 The Trust, registered under Section 12A of the IT Act, was held eligible for exemption under Section 11 despite generating profits, as its surplus was used for charitable purposes like education and infrastructure development. The court emphasized that generating profits did not negate the Trust's charitable nature. Additionally, the capital expenditure incurred by the Trust was considered a valid application of income under Section 11 for educational purposes. The court dismissed the appeal, affirming the decisions of the CIT(A) and ITAT, concluding that no substantial question of law arose in the case. en-us Mon, 10 Nov 2014 00:00:00 +0530 Tue, 12 May 2015 18:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253271 The Trust, registered under Section 12A of the IT Act, was held eligible for exemption under Section 11 despite generating profits, as its surplus was used for charitable purposes like education and infrastructure development. The court emphasized that generating profits did not negate the Trust's charitable nature. Additionally, the capital expenditure incurred by the Trust was considered a valid application of income under Section 11 for educational purposes. The court dismissed the appeal, affirming the decisions of the CIT(A) and ITAT, concluding that no substantial question of law arose in the case. Case-Laws Income Tax Mon, 10 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253271