https://www.taxtmi.com/caselaws?id=367055 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision to grant exemption to the assessee under sections 11 and 12 of the Income Tax Act, 1961. The Tribunal concluded that the proviso to Section 2(15) was not applicable to the assessee as its activities did not constitute trade, commerce, or business. The judgment emphasized the importance of considering the nature of activities and legal precedents in determining tax exemptions for charitable societies promoting Indian art and culture. en-us Wed, 12 Sep 2018 00:00:00 +0530 Fri, 14 Sep 2018 07:48:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367055 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision to grant exemption to the assessee under sections 11 and 12 of the Income Tax Act, 1961. The Tribunal concluded that the proviso to Section 2(15) was not applicable to the assessee as its activities did not constitute trade, commerce, or business. The judgment emphasized the importance of considering the nature of activities and legal precedents in determining tax exemptions for charitable societies promoting Indian art and culture. Case-Laws Income Tax Wed, 12 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367055