https://www.taxtmi.com/caselaws?id=389556 The Tribunal dismissed the assessee's appeals, upholding the CIT(E)'s decision that the assessment order was erroneous and prejudicial to revenue. It directed a reassessment, emphasizing that income from the Kuri business was not incidental to the trust's objectives, thus not qualifying for exemption under Section 11 of the Income Tax Act. The Tribunal highlighted the need for business activities to directly align with the trust's objectives to be exempt. en-us Wed, 25 Sep 2019 00:00:00 +0530 Wed, 11 Dec 2019 13:28:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389556 The Tribunal dismissed the assessee's appeals, upholding the CIT(E)'s decision that the assessment order was erroneous and prejudicial to revenue. It directed a reassessment, emphasizing that income from the Kuri business was not incidental to the trust's objectives, thus not qualifying for exemption under Section 11 of the Income Tax Act. The Tribunal highlighted the need for business activities to directly align with the trust's objectives to be exempt. Case-Laws Income Tax Wed, 25 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389556