Case Law Details
The assessee- trust was formed in pursuance of the Securities and Exchange Board of India (SEBI) guidelines/regulations for investor protection, with the sole aim of creating a Fund which could provide compensation to the investors in case of loss on account of default by any member of a participating, recognized Stock Exchange. The same is a public charitable cause, falling within the scope of the term ‘charitable purpose’ as defined u/s. 2(15), vide the last limb thereof, i.e., the advancement of any other object of general public utility.
INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI
BEFORE SHRI B. R. MITTAL, JM AND SHRI SANJAY ARORA, AM
I.T.A. No. 7436/Mum/2011 – Assessment Year: N.A.)
Inter-connected Stock Exchange
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