Case Law Details
Case Name : Shree Bhartimaiya Memorial Foundation Vs ACIT (ITAT Ahmedabad)
Related Assessment Year : 2016-17
Courts :
All ITAT ITAT Ahmedabad
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Shree Bhartimaiya Memorial Foundation Vs ACIT (ITAT Ahmedabad )
ITAT Ahmedabad held that only profit and gains derived from the incidental business of charitable-trust would qualify as income for computing statutorily allowed accumulation of 15% in terms of section 11(1)(a) of the Income Tax Act.
Facts- The assessee is a registered charitable trust, both under the Income Tax Act and with the Charity Commissioner, providing services to the public at large. During the impugn
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