https://www.taxtmi.com/caselaws?id=259988 The Tribunal ruled that the activities of the assessee society were commercial, not charitable, as they involved profit-making ventures through the publication and sale of textbooks. Consequently, the assessee was denied exemption under Sections 11 and 12 of the Income Tax Act. The Tribunal upheld the Assessing Officer's decision, emphasizing that the society's failure to maintain separate books of accounts and improper accumulation of funds further disqualified it from claiming exemption benefits. The Tribunal allowed all four appeals filed by the Revenue, overturning the CIT(A)'s order and reinstating the AO's assessment, thereby denying exemption to the assessee. en-us Thu, 23 Apr 2015 00:00:00 +0530 Wed, 10 May 2017 14:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259988 The Tribunal ruled that the activities of the assessee society were commercial, not charitable, as they involved profit-making ventures through the publication and sale of textbooks. Consequently, the assessee was denied exemption under Sections 11 and 12 of the Income Tax Act. The Tribunal upheld the Assessing Officer's decision, emphasizing that the society's failure to maintain separate books of accounts and improper accumulation of funds further disqualified it from claiming exemption benefits. The Tribunal allowed all four appeals filed by the Revenue, overturning the CIT(A)'s order and reinstating the AO's assessment, thereby denying exemption to the assessee. Case-Laws Income Tax Thu, 23 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259988