https://www.taxtmi.com/caselaws?id=393034 The High Court of Bombay dismissed the Revenue's appeal against a Trust running a hospital with a pharmacy store for the assessment year 2010-11. The Court held that the surplus amount from the pharmacy store was not to be treated as business income under Section 11(4A) of the Income Tax Act, as the pharmacy was deemed part of the hospital's philanthropic operations. The Court emphasized the pharmacy's ancillary role to the hospital's main objective and cited legal precedents to support its decision, ultimately upholding the Tribunal's ruling in favor of the Trust. en-us Wed, 05 Feb 2020 00:00:00 +0530 Wed, 04 Mar 2020 16:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393034 The High Court of Bombay dismissed the Revenue's appeal against a Trust running a hospital with a pharmacy store for the assessment year 2010-11. The Court held that the surplus amount from the pharmacy store was not to be treated as business income under Section 11(4A) of the Income Tax Act, as the pharmacy was deemed part of the hospital's philanthropic operations. The Court emphasized the pharmacy's ancillary role to the hospital's main objective and cited legal precedents to support its decision, ultimately upholding the Tribunal's ruling in favor of the Trust. Case-Laws Income Tax Wed, 05 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393034