https://www.taxtmi.com/caselaws?id=413676 A statutory road transport corporation established to provide public transport was found to have a dominant public utility object, so incidental income from bus hiring, advertisements and other non-traffic receipts did not show a predominant profit motive. Applying the dominant object test, the proviso to section 2(15) of the Income-tax Act, 1961 was held not to apply and exemption under section 11 was maintained. The remaining assessment additions were not examined on merits by the first appellate authority because they had been treated as academic; they were therefore remanded for independent adjudication after hearing the assessee. en-us Tue, 28 Sep 2021 00:00:00 +0530 Mon, 18 Oct 2021 09:28:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413676 A statutory road transport corporation established to provide public transport was found to have a dominant public utility object, so incidental income from bus hiring, advertisements and other non-traffic receipts did not show a predominant profit motive. Applying the dominant object test, the proviso to section 2(15) of the Income-tax Act, 1961 was held not to apply and exemption under section 11 was maintained. The remaining assessment additions were not examined on merits by the first appellate authority because they had been treated as academic; they were therefore remanded for independent adjudication after hearing the assessee. Case-Laws Income Tax Tue, 28 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413676