Proviso to Sec. 2(15) not applicable just because trust incidentally involves carrying on commercial activities: ITAT

INCOME TAX: Newly inserted proviso to section 2(15) will not apply in respect of first three limbs of section 2(15), i.e., relief of poor, education or medical relief and, consequently, where purpose of a trust or institution is relief of poor, education or medical relief, it will constitute ‘charitable purpose’ even if it incidentally involves carrying on of commercial activitiesINCOME TAX: Newly inserted proviso to section 2(15) will not apply in respect of first three limbs of section 2(15), i.e., relief of poor, education or medical relief and, consequently, where purpose of a trust or institution is relief of poor, education or medical relief, it will constitute ‘charitable purpose’ even if it incidentally involves carrying on of commercial activitieswww.taxmann.com Latest Case LawsRead More

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