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Surplus from Trade Fairs Not Commercial: ITAT Restores Charitable Registration
Case Law Details
- Case Name
- Tamil Nadu Trade Promotion Organization Vs CIT (Exemptions) (ITAT Chennai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- N/A
- Courts
- All ITAT, ITAT Chennai
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Tamil Nadu Trade Promotion Organization Vs CIT (Exemptions) (ITAT Chennai)
Trade Promotion is Public Utility, Not Profit-Motive – Surplus from Trade Fairs Not Commercial -Registration Restored
Assessee, a State Government undertaking & joint venture between ITPO (51%) & TIDCO (49%), was incorporated in 2000 as a non-profit company u/s 25 of Companies Act, 1956. Its main objective is to promote Indian industry & trade through organizing fairs & exhibitions.
Assessee earlier enjoyed registration u/s 10(23C)(iv) from AY 2007-08, but exemption was withdrawn from AY 2009-10 onward...
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