Trust Eligible for Tax Exemptions Despite Charging Fees for Services; Appeals Overturn Initial Denial of Charitable Status.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Exemption u/s 11 - charging of guarantee fees for services by the assessee trust - the impugned findings returned by the Ld. CIT(A) that “since the assessee is charging guarantee fee on substantial scale, it is not carrying out any charitable activities, hence not entitled for benefit of section 11 & 12 of the Act”, are not sustainable, hence set aside. - AT....