https://www.taxtmi.com/caselaws?id=292528 The court held that the petitioner trust's activities did not amount to carrying out trade, commerce, or business, and thus, the proviso to Section 2(15) of the Income Tax Act did not apply. Consequently, the notice issued under Section 148 for reopening the assessment and the subsequent assessment order were deemed invalid and were quashed. The court allowed the petitions, making the rule absolute with no order as to costs. en-us Tue, 21 Jan 2020 00:00:00 +0530 Tue, 29 Dec 2020 20:16:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292528 The court held that the petitioner trust's activities did not amount to carrying out trade, commerce, or business, and thus, the proviso to Section 2(15) of the Income Tax Act did not apply. Consequently, the notice issued under Section 148 for reopening the assessment and the subsequent assessment order were deemed invalid and were quashed. The court allowed the petitions, making the rule absolute with no order as to costs. Case-Laws Income Tax Tue, 21 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292528