https://www.taxtmi.com/caselaws?id=268259 The Tribunal determined that the consultancy services provided by professors at an autonomous Institute and deemed University constituted a business activity with a profit motive, rather than being incidental to the institute's charitable objectives. As a result, the income from these services was deemed taxable as business income. The Tribunal set aside the order of the Commissioner of Income Tax (Appeals) that had exempted this income and upheld the decision of the Assessing Officer to tax the consultancy income. The Revenue's appeal was allowed, denying exemption under the Income Tax Act for the consultancy income. en-us Wed, 28 Oct 2015 00:00:00 +0530 Mon, 23 Nov 2015 03:55:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268259 The Tribunal determined that the consultancy services provided by professors at an autonomous Institute and deemed University constituted a business activity with a profit motive, rather than being incidental to the institute's charitable objectives. As a result, the income from these services was deemed taxable as business income. The Tribunal set aside the order of the Commissioner of Income Tax (Appeals) that had exempted this income and upheld the decision of the Assessing Officer to tax the consultancy income. The Revenue's appeal was allowed, denying exemption under the Income Tax Act for the consultancy income. Case-Laws Income Tax Wed, 28 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268259