Leather Merchants Association Granted Tax Exemption; Proviso to Section 2(15) Found Inapplicable.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Benefit of exemption u/s 11 denied - profit motive - Association of leather merchants - AO has not disputed the conditions necessary for allowing exemption u/s.11 of the Act, except the applicability of proviso to Sec.2(15) - the said proviso is not applicable to the case of the Assessee - exemption allowed - AT....