Assessee developing gems amp; jewellery parks to provide common facilities for export of diamonds eligible for sec. 11 relief

INCOME TAX : Where assessee trust was established with objective to develop world class gems and jewellery park to provide common facilities required to promote exports of diamonds from India and it was not carrying out any trade, commerce or business and only dealt with its members to attain its objects of general public utility, it would not be hit by first proviso to section 2(15), hence, benefit of section 11 could not have been denied

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