https://www.taxtmi.com/caselaws?id=199627 The Court dismissed the appeals filed by the Greater Cochin Development Authority challenging the common order of the Income Tax Appellate Tribunal. It held that the appellant's activities, although serving public utility, were commercial in nature and did not qualify as charitable purposes under Section 2(15) of the Act. Consequently, the exemption claimed under Section 11 was disallowed, and the income was assessed for tax. The judgment underscored the importance of the proviso to Section 2(15) in determining charitable purpose eligibility and the need for factual evidence in assessing tax liabilities for charitable entities. en-us Fri, 19 Dec 2014 00:00:00 +0530 Thu, 08 Mar 2018 06:59:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199627 The Court dismissed the appeals filed by the Greater Cochin Development Authority challenging the common order of the Income Tax Appellate Tribunal. It held that the appellant's activities, although serving public utility, were commercial in nature and did not qualify as charitable purposes under Section 2(15) of the Act. Consequently, the exemption claimed under Section 11 was disallowed, and the income was assessed for tax. The judgment underscored the importance of the proviso to Section 2(15) in determining charitable purpose eligibility and the need for factual evidence in assessing tax liabilities for charitable entities. Case-Laws Income Tax Fri, 19 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199627