Applicability of proviso to section 2(15) should be based only on facts & circumstances of each case

Ride A Cycle Foundation Vs ITO (ITAT Bangalore) ITAT Bangalore held that applicability of the proviso to 2(15) of the Act cannot be on the basis of the default of the parties in not participating in the proceedings but should be on the basis of facts and circumstances of each case. Accordingly, matter remanded for fresh consideration. Facts- The main objects of the assessee-trust are creating awareness for the society about the virtues of using cycle and to make cycle as a popular mode of transportation that would lessen global warming, air pollution. The assessee has also object of making peo...