https://www.taxtmi.com/caselaws?id=177565 The Tribunal held that the exhibitions organized by the assessee constituted a business activity as they were conducted regularly and generated substantial profits. The income derived from these activities was deemed taxable as business profits. The Tribunal also ruled that the assessee did not maintain separate books of account as required by law, leading to the denial of exemption under section 11(4A). The appeal filed by the assessee was dismissed, affirming the CIT(A)'s decision. en-us Wed, 30 Sep 1998 00:00:00 +0530 Tue, 12 Jan 2016 17:34:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177565 The Tribunal held that the exhibitions organized by the assessee constituted a business activity as they were conducted regularly and generated substantial profits. The income derived from these activities was deemed taxable as business profits. The Tribunal also ruled that the assessee did not maintain separate books of account as required by law, leading to the denial of exemption under section 11(4A). The appeal filed by the assessee was dismissed, affirming the CIT(A)'s decision. Case-Laws Income Tax Wed, 30 Sep 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177565