https://www.taxtmi.com/caselaws?id=784163 Whether the assessee's receipts disentitled it from exemption under s.11 by triggering the "trade, commerce or business" exclusion in s.2(15) was governed by SC's ruling that statutory bodies pursuing objects of general public utility may still qualify as charities, provided commercial receipts arising while furthering such objects remain within the 20% cap in the second proviso to s.2(15) and other conditions of s.11 are satisfied. Consequently, the assessments were set aside and remanded to the AO to redo the assessment applying the SC tests after the competent authority decides the pending s.119(2)(b) condonation request for delayed s.12AA registration; appeals were allowed for statistical purposes. en-us Fri, 05 Dec 2025 00:00:00 +0530 Mon, 29 Dec 2025 10:35:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784163 Whether the assessee's receipts disentitled it from exemption under s.11 by triggering the "trade, commerce or business" exclusion in s.2(15) was governed by SC's ruling that statutory bodies pursuing objects of general public utility may still qualify as charities, provided commercial receipts arising while furthering such objects remain within the 20% cap in the second proviso to s.2(15) and other conditions of s.11 are satisfied. Consequently, the assessments were set aside and remanded to the AO to redo the assessment applying the SC tests after the competent authority decides the pending s.119(2)(b) condonation request for delayed s.12AA registration; appeals were allowed for statistical purposes. Case-Laws Income Tax Fri, 05 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784163