https://www.taxtmi.com/caselaws?id=754915 The ITAT Kolkata allowed the assessee's appeal, granting exemption under Section 11 of the Income Tax Act. The tribunal found that despite the assessee conducting commercial activities covered by the proviso to Section 2(15), the profit derived from public utility services was meager. Following consistent decisions in the assessee's favor for previous assessment years and precedents from the Indian Chamber of Commerce case and SC decision in ACIT vs. Ahmedabad Urban Development Authority, the tribunal held the services to be charitable in nature, directing the AO to allow the exemption. en-us Fri, 28 Jun 2024 00:00:00 +0530 Tue, 02 Jul 2024 14:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754915 The ITAT Kolkata allowed the assessee's appeal, granting exemption under Section 11 of the Income Tax Act. The tribunal found that despite the assessee conducting commercial activities covered by the proviso to Section 2(15), the profit derived from public utility services was meager. Following consistent decisions in the assessee's favor for previous assessment years and precedents from the Indian Chamber of Commerce case and SC decision in ACIT vs. Ahmedabad Urban Development Authority, the tribunal held the services to be charitable in nature, directing the AO to allow the exemption. Case-Laws Income Tax Fri, 28 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754915