https://www.taxtmi.com/caselaws?id=789846 The proviso to section 2(15) applies only where an object of general public utility is pursued in the nature of trade, commerce or business, so the dominant purpose and overall factual matrix must be examined. Here, the Tribunal found that the trust's principal income was rental income from immovable property held under trust, a permitted investment under section 11(5)(x), while the hall letting, royalty and allied receipts were merely incidental. It also noted that more than 85% of the income had been applied to the trust's objects and there was no finding of non-genuine or non-charitable expenditure. Accordingly, the receipts were not commercial in character, section 11 exemption could not be denied, and the additions were deleted. en-us Tue, 07 Apr 2026 00:00:00 +0530 Wed, 15 Apr 2026 09:05:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789846 The proviso to section 2(15) applies only where an object of general public utility is pursued in the nature of trade, commerce or business, so the dominant purpose and overall factual matrix must be examined. Here, the Tribunal found that the trust's principal income was rental income from immovable property held under trust, a permitted investment under section 11(5)(x), while the hall letting, royalty and allied receipts were merely incidental. It also noted that more than 85% of the income had been applied to the trust's objects and there was no finding of non-genuine or non-charitable expenditure. Accordingly, the receipts were not commercial in character, section 11 exemption could not be denied, and the additions were deleted. Case-Laws Income Tax Tue, 07 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789846