Section 11 exemption cannot be denied if Trust is not working with the intent of earning profit

CIT (Exemptions) Delhi Vs Association of State Road Transport Undertakings (Delhi High Court) Though the Assessing Officer has held that the assessee-association has various source of income from commercial activities, yet this Court finds that Appellate Authorities i.e. Commissioner (Appeals) and ITAT have held that the assessee-association has not been earning any profit as the main object of the assessee-association is to improve the public transport system in the country and the road safety standards. Undoubtedly, the activities of laboratory testing and consultancy are bringing revenue to...