GS1 India’s Income Tax Exemption Denial: An Insight into Delhi HC’s Verdict

CIT Vs GS1 India (Delhi High Court) Introduction: In a significant ruling, the Delhi High Court denied GS1 India’s tax exemption claim under section 2(15) of the Income Tax Act, stating that the services provided by the organization were primarily for the benefit of trade and business. Analysis: The dispute arose concerning the Assessment Year (AY) 2013-14 when GS1 India claimed a tax exemption under section 2(15) of the Income Tax Act. The appellant, the revenue authority, contested this claim, and the matter reached the Delhi High Court. Mr Rishabh Sancheti, representing GS1 India, did...