1972 (2) TMI 6

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....This is a reference at the instance of the Commissioner of Income-tax and the Income-tax Appellate Tribunal, Cochin Bench, has referred the following question to this court : " Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was justified in law in holding that the income of the assessee is exempt from tax under section 11 of the Income-tax Act, 1961? " The....

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....tively. It was proposed to treat the receipts from the issue of certificates for survey and weighment as income for the purpose of assessment. The assessee contended that the income in question was that derived from the property held under trust wholly for charitable purposes and therefore is exempt under section 11(1)(a) of the Income-tax Act, 1961. " Charitable purpose " is defined in section....

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.... took in the decision in Commissioner of Income-tax Indian Chamber of Commerce has been taken by the Calcutta High Court and the reasoning is thus stated in the judgment : " An appropriate interpretation of section 2(15) of the Income-tax Act, 1961, is to consider the expression 'not involving the carrying on of any activity for profit' as qualifying the expression 'the advancement of any other....

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....ery object must be for the carrying on of an activity for profit in order that the object may be outside the purview of the definition. This, we think, will be better understood if the section is read in a positive manner as postulating objects which are outside the purview of the definition. The section has to be read in this manner then : " Object of general public utility involving the carry....