Surplus from Trade Fairs Not Commercial: ITAT Restores Charitable Registration

Tamil Nadu Trade Promotion Organization Vs CIT (Exemptions) (ITAT Chennai) Trade Promotion is Public Utility, Not Profit-Motive – Surplus from Trade Fairs Not Commercial -Registration Restored Assessee, a State Government undertaking & joint venture between ITPO (51%) & TIDCO (49%), was incorporated in 2000 as a non-profit company u/s 25 of Companies Act, 1956. Its main objective is to promote Indian industry & trade through organizing fairs & exhibitions. Assessee earlier enjoyed registration u/s 10(23C)(iv) from AY 2007-08, but exemption was withdrawn from AY 2009-10 onward...