1979 (9) TMI 94

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.... assessee's claim for exemption under s. 11 has been rejected by the ITO who held, following the Supreme Court decision in the case Lokashikshan Trust vs. CIT, that the assessee Association was having activity of general public utility involving profit and, therefore, it was not entitled to exemption under s. 11. 3. The AAC, has on the other hand, for reasons given in para 4 of his order held that the assessee Association was not even an Association involved in public charity and therefore the second issue whether it was involved in an activity of profit was a matter of academic importance and did not require any decision. 4. It is submitted before us by Shri Parikh, the learned counsel for the assessee, that the departmental authorit....

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..... The Departmental Representative has, on the other hand, strongly relied on the order of the AAC. In support of the contention that the assessee Association was not established for charitable purpose within the meaning of s. 2(15) of the IT Act, 1961, particular reference in this behalf was made to the assessee in a labour pool activity at pages 69 of its Paper Book. 6. We have heard the parties at length and have carefully gone through the Memorandum of Association of the assessee Association. No doubt the assessee Association is mainly for the benefit of Bombay Custom House Clearing Agents and incidentally to the benefit of Custom Department and the persons engaged in export and import business. The short question that arises for cons....