https://www.taxtmi.com/caselaws?id=755360 ITAT Delhi set aside CIT(A)'s decision allowing section 11 exemption for charitable activities. Revenue challenged the exemption, arguing the assessee's 86.18% profit margin from general utility activities exceeded nominal markup limits and constituted commercial activity rather than charitable work. ITAT accepted Revenue's contention, noting authorities failed to properly examine whether activities constituted trade/commerce under Supreme Court guidelines in Ahmedabad Urban Development Authority case. Matter remanded to AO for fresh examination of activity nature and compliance with section 2(15) proviso limits. Revenue appeals allowed for statistical purposes. en-us Mon, 08 Jul 2024 00:00:00 +0530 Wed, 10 Jul 2024 16:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755360 ITAT Delhi set aside CIT(A)'s decision allowing section 11 exemption for charitable activities. Revenue challenged the exemption, arguing the assessee's 86.18% profit margin from general utility activities exceeded nominal markup limits and constituted commercial activity rather than charitable work. ITAT accepted Revenue's contention, noting authorities failed to properly examine whether activities constituted trade/commerce under Supreme Court guidelines in Ahmedabad Urban Development Authority case. Matter remanded to AO for fresh examination of activity nature and compliance with section 2(15) proviso limits. Revenue appeals allowed for statistical purposes. Case-Laws Income Tax Mon, 08 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755360