https://www.taxtmi.com/caselaws?id=392705 The High Court of Madras upheld the Income Tax Appellate Tribunal's decision to grant registration under Section 12AA of the Act to a Trust engaged in activities like developing new drugs, publishing journals, and establishing financial institutions. The Court ruled in favor of the Assessee, stating that the Trust's activities, including research and development of new medicines, aligned with 'Charitable Purposes' as per the amended definition. The Court emphasized that the Trust's activities were not considered business activities and dismissed the Revenue's appeal, affirming the Trust's entitlement to registration under Section 12AA. en-us Thu, 13 Feb 2020 00:00:00 +0530 Wed, 26 Feb 2020 12:01:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392705 The High Court of Madras upheld the Income Tax Appellate Tribunal's decision to grant registration under Section 12AA of the Act to a Trust engaged in activities like developing new drugs, publishing journals, and establishing financial institutions. The Court ruled in favor of the Assessee, stating that the Trust's activities, including research and development of new medicines, aligned with 'Charitable Purposes' as per the amended definition. The Court emphasized that the Trust's activities were not considered business activities and dismissed the Revenue's appeal, affirming the Trust's entitlement to registration under Section 12AA. Case-Laws Income Tax Thu, 13 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392705