https://www.taxtmi.com/caselaws?id=772873 The HC upheld the ITAT's decision confirming that the assessee trust is not engaged in any business activity under Section 2(15) and is therefore entitled to exemption under Section 11. The CIT(A) and ITAT both found no involvement of the trust in transactions between inter se members, rendering the proviso to Section 2(15) inapplicable. The HC held that the ITAT's fact-based conclusion does not raise any substantial question of law, affirming the exemption claim. en-us Wed, 11 Jun 2025 00:00:00 +0530 Sat, 02 Aug 2025 11:26:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772873 The HC upheld the ITAT's decision confirming that the assessee trust is not engaged in any business activity under Section 2(15) and is therefore entitled to exemption under Section 11. The CIT(A) and ITAT both found no involvement of the trust in transactions between inter se members, rendering the proviso to Section 2(15) inapplicable. The HC held that the ITAT's fact-based conclusion does not raise any substantial question of law, affirming the exemption claim. Case-Laws Income Tax Wed, 11 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772873