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ITAT Chennai: Milk Trading by Charitable Trust Does Not Automatically Attract Proviso to Sec.2(15) – Matter Remanded
Case Law Details
- Case Name
- DCIT Vs Madurai District Cooperative Milk Producers Union Limited (ITAT Chennai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2020-21
- Courts
- All ITAT, ITAT Chennai
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DCIT Vs Madurai District Cooperative Milk Producers Union Limited (ITAT Chennai)
ITAT Chennai: Milk Trading by Charitable Trust Does Not Automatically Attract Proviso to Sec.2(15) – Matter Remanded
The assessee, Shri Gaura Nitai Seva Trust, a registered charitable trust u/s 12AA, filed its return for AY 2017-18 claiming exemption u/s 11. The AO denied the exemption by invoking the proviso to Section 2(15) on the ground that the trust was engaged in purchase and sale of milk and earning surplus, which according to the AO amounted to carrying on business activity. The CIT(A) u...
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