https://www.taxtmi.com/caselaws?id=256727 A charitable transport corporation retains exemption under section 11 of the Income-tax Act even where business operations are conducted through paid employees, because the controlling test is whether the activity is carried on mainly for and on behalf of the beneficiaries. The beneficiaries were treated as the travelling public, and the employees were regarded as instrumentalities of that public purpose rather than disqualifying beneficiaries. The distinction between carrying on a business and carrying on activities on business principles did not defeat exemption. The same reasoning also supported the answer on the section 115J depreciation question in favour of the corporation. en-us Wed, 16 Jul 2014 00:00:00 +0530 Fri, 20 Feb 2015 08:40:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256727 A charitable transport corporation retains exemption under section 11 of the Income-tax Act even where business operations are conducted through paid employees, because the controlling test is whether the activity is carried on mainly for and on behalf of the beneficiaries. The beneficiaries were treated as the travelling public, and the employees were regarded as instrumentalities of that public purpose rather than disqualifying beneficiaries. The distinction between carrying on a business and carrying on activities on business principles did not defeat exemption. The same reasoning also supported the answer on the section 115J depreciation question in favour of the corporation. Case-Laws Income Tax Wed, 16 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256727