https://www.taxtmi.com/caselaws?id=356776 The Court held that the activity of holding the exhibition IMTEX-92 by the Assessee constituted a business activity as it aimed at earning substantial profits. The business of holding the exhibition was found to be incidental to the Assessee's objectives. However, the Assessee's failure to maintain separate books of accounts for the exhibition meant it did not fulfill the statutory requirement, resulting in the denial of benefits under Section 11 of the Income Tax Act. The Court ruled in favor of the Revenue and against the Assessee, disposing of the reference accordingly. en-us Fri, 09 Mar 2018 00:00:00 +0530 Mon, 12 Mar 2018 17:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356776 The Court held that the activity of holding the exhibition IMTEX-92 by the Assessee constituted a business activity as it aimed at earning substantial profits. The business of holding the exhibition was found to be incidental to the Assessee's objectives. However, the Assessee's failure to maintain separate books of accounts for the exhibition meant it did not fulfill the statutory requirement, resulting in the denial of benefits under Section 11 of the Income Tax Act. The Court ruled in favor of the Revenue and against the Assessee, disposing of the reference accordingly. Case-Laws Income Tax Fri, 09 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356776