https://www.taxtmi.com/caselaws?id=449177 ITAT MUMBAI - AT remitted the matter to the AO for fresh adjudication, holding that denial of exemption under s.11 cannot rest solely on receipts crossing thresholds; AO must determine whether the entity's core activity falls within trade/business or is caught by the proviso to s.2(15), apply the threshold criteria per the SC authority, verify true margins from sale of reports, and reassess the principle of mutuality. Earlier findings by AO and CIT(A) were set aside for reconsideration; appeals are allowed for statistical purposes. en-us Thu, 14 Dec 2023 00:00:00 +0530 Mon, 03 Nov 2025 16:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449177 ITAT MUMBAI - AT remitted the matter to the AO for fresh adjudication, holding that denial of exemption under s.11 cannot rest solely on receipts crossing thresholds; AO must determine whether the entity's core activity falls within trade/business or is caught by the proviso to s.2(15), apply the threshold criteria per the SC authority, verify true margins from sale of reports, and reassess the principle of mutuality. Earlier findings by AO and CIT(A) were set aside for reconsideration; appeals are allowed for statistical purposes. Case-Laws Income Tax Thu, 14 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449177