https://www.taxtmi.com/caselaws?id=257379 The Tribunal upheld the decision that the Trust was not entitled to exemption under section 11(4A) of the I.T. Act. It found that the supermarket business was not incidental to the trust's objectives, as the income was not exclusively used for charitable purposes. The Tribunal also noted that separate books of accounts for business activities were not maintained. Despite a dissenting opinion citing a Supreme Court decision, the majority dismissed the appeals filed by the assessee. en-us Fri, 05 Dec 2014 00:00:00 +0530 Wed, 11 Mar 2015 05:26:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257379 The Tribunal upheld the decision that the Trust was not entitled to exemption under section 11(4A) of the I.T. Act. It found that the supermarket business was not incidental to the trust's objectives, as the income was not exclusively used for charitable purposes. The Tribunal also noted that separate books of accounts for business activities were not maintained. Despite a dissenting opinion citing a Supreme Court decision, the majority dismissed the appeals filed by the assessee. Case-Laws Income Tax Fri, 05 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257379