Assessing Officer Misapplies Section 2(15), Incorrectly Denies Tax Exemption to Trade Association Lacking Profit Motive Evidence.

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....Exemption u/s 11 - mutual trade association having the main object to safeguard the interest of the industry and trade - Assessing Officer erred in invoking proviso to Sec. 2(15) to treat the activities of the assessee as being non-charitable specifically considering the fact that no material or evidence has been led to show that there was any profit motive in carrying out such activities. - AT....