Case Law Details
Case Name : Gem Jewellery Export Promotion Council Vs ACIT (ITAT Mumbai)
Related Assessment Year : 2014-15
Courts :
All ITAT ITAT Mumbai
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Gem & Jewellery Export Promotion Council Vs ACIT (ITAT Mumbai)
ITAT Mumbai held that conducting or participating in exhibitions within India or overseas for promotion of Gem and Jewellery Industry couldn’t be regarded as commercial activity for the purpose of proviso to section 2(15) of the Income Tax Act.
Facts- Briefly stated facts of the case are that the assessee is a company registered u/s. 25 of the Companies Act, 1956 with the main object to support, protect, maintain, increase and promote the export of gems and jewellery etc. ROI filed by the assessee was selected for scrutiny as...
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