2015 (5) TMI 220

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.... Respondents : Mr Beni Chatterji, Senior Adv. i/b M/s S K Srivastav & Co. ORDER P.C. 1. The appeal filed by the revenue challenges the order passed by the Tribunal dated 5th October, 2012. 2. Mrs.Bharucha appearing for the revenue submits that four questions which have been formulated at page Nos.4 & 5 by the revenue are all substantial questions of law. 3. With regard to the first ....

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.... The Tribunal has held that the "Management and Development Program & Consultancy Charges' is part and parcel of 'Narsee Monjee Institute of Management Studies' which has been set up by the respondent-assessee. The respondent-assessee is a trust and has set up 30 schools and colleges. The Commissioner as also the Tribunal has found that the element of business is missing in conducting ....

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.... halls for marriages, sale and advertisement rights has not been found to be a regular activity undertaken as a part of business. The educational institutions require funds. The income is generated from giving various halls and properties of the institution on rentals only on Saturdays and Sundays and on public holidays when they are not required for educational activities, then, this cannot be sa....