Gem & jewellery Exhibitions for members benefit not commercial Activity: ITAT allows Section 11 exemption to GJEPC

DCIT Vs Gem And Jewellery Export Promotion Council (ITAT Mumbai) In the case of DCIT vs. Gem and Jewellery Export Promotion Council, the Income Tax Appellate Tribunal (ITAT) Mumbai ruled in favor of the assessee, confirming their eligibility for tax exemption under Section 11 of the Income Tax Act. The case primarily revolved around the activities conducted by the council, specifically their role in organizing exhibitions, and whether these activities constituted commercial endeavors. The assessee, a non-profit organization established under Section 25 of the Companies Act, 1956, aims to suppo...