https://www.taxtmi.com/caselaws?id=331481 The Tribunal allowed the appeal, determining that the appellant society's activities were charitable under section 2(15) of the Income Tax Act. It held that the denial of exemption under sections 11 and 12 was unjustified, directing that the exemption be granted and the interest income not be taxed. The Tribunal found the appellant's activities to be educational and aligned with its charitable objectives, emphasizing that the surplus generated did not indicate a profit motive. Ultimately, the appeal was decided in favor of the appellant. en-us Fri, 27 May 2016 00:00:00 +0530 Wed, 24 Aug 2016 10:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331481 The Tribunal allowed the appeal, determining that the appellant society's activities were charitable under section 2(15) of the Income Tax Act. It held that the denial of exemption under sections 11 and 12 was unjustified, directing that the exemption be granted and the interest income not be taxed. The Tribunal found the appellant's activities to be educational and aligned with its charitable objectives, emphasizing that the surplus generated did not indicate a profit motive. Ultimately, the appeal was decided in favor of the appellant. Case-Laws Income Tax Fri, 27 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331481