https://www.taxtmi.com/caselaws?id=302810 An entity advancing an object of general public utility does not lose section 11 exemption merely because it earns incidental receipts or surplus; the decisive test is whether it is actually carrying on trade, commerce or business with a dominant profit motive. On the facts, a State transport corporation's ancillary receipts from luxury buses, parcel services, tour packages, rent and advertisements were held insignificant in the context of its overall public transport activity, and insufficient to convert it into a commercial undertaking. The proviso to section 2(15) was therefore inapplicable, and denial of exemption under section 11 was unsustainable. en-us Thu, 08 Aug 2019 00:00:00 +0530 Sun, 19 Jun 2022 21:02:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302810 An entity advancing an object of general public utility does not lose section 11 exemption merely because it earns incidental receipts or surplus; the decisive test is whether it is actually carrying on trade, commerce or business with a dominant profit motive. On the facts, a State transport corporation's ancillary receipts from luxury buses, parcel services, tour packages, rent and advertisements were held insignificant in the context of its overall public transport activity, and insufficient to convert it into a commercial undertaking. The proviso to section 2(15) was therefore inapplicable, and denial of exemption under section 11 was unsustainable. Case-Laws Income Tax Thu, 08 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302810