https://www.taxtmi.com/caselaws?id=378218 The Tribunal allowed the appeal, ruling that the trust's activities were charitable, qualifying for exemptions under Sections 11 and 12 of the Income Tax Act. The Rs. 190 Crores received from the Central Government were considered grants, not income, and treated as a liability rather than corpus contribution. The Tribunal emphasized that the trust's primary objective was not profit-making but to promote exports and improve competitiveness, aligning with charitable purposes. en-us Fri, 18 Jan 2019 00:00:00 +0530 Wed, 10 Apr 2019 07:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378218 The Tribunal allowed the appeal, ruling that the trust's activities were charitable, qualifying for exemptions under Sections 11 and 12 of the Income Tax Act. The Rs. 190 Crores received from the Central Government were considered grants, not income, and treated as a liability rather than corpus contribution. The Tribunal emphasized that the trust's primary objective was not profit-making but to promote exports and improve competitiveness, aligning with charitable purposes. Case-Laws Income Tax Fri, 18 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378218