Case Law Details
M/s. Indian Plastics Institute Vs Assistant Director of Income Tax Officer (ITAT Mumbai)
Considering that the activities of the assessee-trust are for advancement and development for the benefit of its members and public, the art, science, technology and engineering of plastics, natural and synthetic and other related materials which is achieved through regular technical lectures, seminars and workshop on topical interest, and international conference held in India by inviting foreign delegates and faculties, conducting one-year part-time Diploma Courses, conducting Plastics Processing Operators Training (PPOT) in 100 Govt. Industrial Training Institutes (ITI) all over India, conducting two-day short-term courses and publishing IPI Journals giving latest technological Developments.
11. We observe that assessee trust it is not carrying on any activity which can be termed as “commercial activity” or an activity in the nature of trade, commerce or business by conducting an International Conference. The assessee is disseminating knowledge on the subject of plastics by different ways and means like holding courses, holding conferences, holding lectures, publishing literature on new subjects, publishing its journal, conducting diploma course, etc. Thus the activities of the assessee are purely of a general public utility inasmuch as it helps all those classes of persons connected with the plastics and its application with a useful knowledge and information from time to time. Accordingly, we do not find any merit in the action of the lower authorities for decline of claim of exemption in respect of excess of income over the expenditure which was transferred to the education fund.
FULL TEXT OF THE ITAT JUDGMENT
This is an appeal filed by the assessee against the order of CIT(A)- 1, Mumbai dated 23/08/2016 for A.Y.2009-10 in the matter of order passed u/s.143(3) of the IT Act.
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