https://www.taxtmi.com/caselaws?id=393727 The Tribunal dismissed the Revenue's appeal, affirming that the assessee was not engaged in commercial activities and thus qualified for exemption u/s.11. The Tribunal ruled that the assessee's activities did not constitute trade, commerce, or business, exempting it from the first proviso of Section 2(15). The disallowance of unpaid expenses was deemed unjustified as the assessee had not claimed them in its accounts. Consequently, the Tribunal upheld the decision in favor of the assessee, citing legal precedents and factual findings. en-us Mon, 17 Feb 2020 00:00:00 +0530 Sat, 21 Mar 2020 12:21:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393727 The Tribunal dismissed the Revenue's appeal, affirming that the assessee was not engaged in commercial activities and thus qualified for exemption u/s.11. The Tribunal ruled that the assessee's activities did not constitute trade, commerce, or business, exempting it from the first proviso of Section 2(15). The disallowance of unpaid expenses was deemed unjustified as the assessee had not claimed them in its accounts. Consequently, the Tribunal upheld the decision in favor of the assessee, citing legal precedents and factual findings. Case-Laws Income Tax Mon, 17 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393727