https://www.taxtmi.com/caselaws?id=255319 The Tribunal ruled against the assessee, denying exemption under Section 11 of the Income Tax Act, as it deemed the activities to be commercial rather than charitable. The Tribunal's decision was based on the precedent set in the Greater Cochin Development Authority case, which concluded that similar activities were profit-oriented and not eligible for exemption. The issue of the addition of Rs. 10,01,06,162 as capital expenditure was remanded back to the CIT(A) for fresh adjudication. en-us Wed, 24 Dec 2014 00:00:00 +0530 Tue, 13 Jan 2015 13:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255319 The Tribunal ruled against the assessee, denying exemption under Section 11 of the Income Tax Act, as it deemed the activities to be commercial rather than charitable. The Tribunal's decision was based on the precedent set in the Greater Cochin Development Authority case, which concluded that similar activities were profit-oriented and not eligible for exemption. The issue of the addition of Rs. 10,01,06,162 as capital expenditure was remanded back to the CIT(A) for fresh adjudication. Case-Laws Income Tax Wed, 24 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255319