https://www.taxtmi.com/caselaws?id=767373 ITAT Mumbai held that the assessee, a charitable organization promoting diamond and precious stone trade, was entitled to exemption under Section 11. The tribunal found that the assessee's main charitable objects remained unchanged since registration under Section 12A, and it merely provided a platform for importers/exporters without engaging in trade, commerce or business. The proviso to Section 2(15) was not applicable as the assessee only recovered costs without excessive markup and did not charge fees beyond actual expenses. The appeal was allowed. en-us Wed, 12 Mar 2025 00:00:00 +0530 Mon, 17 Mar 2025 07:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767373 ITAT Mumbai held that the assessee, a charitable organization promoting diamond and precious stone trade, was entitled to exemption under Section 11. The tribunal found that the assessee's main charitable objects remained unchanged since registration under Section 12A, and it merely provided a platform for importers/exporters without engaging in trade, commerce or business. The proviso to Section 2(15) was not applicable as the assessee only recovered costs without excessive markup and did not charge fees beyond actual expenses. The appeal was allowed. Case-Laws Income Tax Wed, 12 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767373