https://www.taxtmi.com/caselaws?id=265205 The Tribunal allowed the appeal by the assessee, ruling that the proviso to Section 2(15) of the Income Tax Act was not applicable, enabling the assessee to qualify for exemption under Section 11. The Tribunal held that the assessee's activities aimed at providing water supply and drainage facilities were charitable in nature, not driven by profit motives. Therefore, the assessee was entitled to the benefits of Section 11, and its income was to be accepted for exemption under the Act. Other contentions were not addressed as the main issue was resolved in favor of the assessee. en-us Fri, 04 Sep 2015 00:00:00 +0530 Thu, 08 Oct 2015 07:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265205 The Tribunal allowed the appeal by the assessee, ruling that the proviso to Section 2(15) of the Income Tax Act was not applicable, enabling the assessee to qualify for exemption under Section 11. The Tribunal held that the assessee's activities aimed at providing water supply and drainage facilities were charitable in nature, not driven by profit motives. Therefore, the assessee was entitled to the benefits of Section 11, and its income was to be accepted for exemption under the Act. Other contentions were not addressed as the main issue was resolved in favor of the assessee. Case-Laws Income Tax Fri, 04 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265205