‘KIADB’ is formed to do charity through advancement of object of general public utility; SC dismissed SLP

INCOME TAX : SLP granted against impugned order of High Court holding that where assessee-industrial development board, registered under section 12AA, was not driven by desire to earn profits but to do charity through advancement of an object of general public utility, proviso to section 2(15) was not applicable in assessee's case and same was entitled to benefit of exemption under section 11

from www.taxmann.com Latest Case Laws https://www.taxmann.com/research/direct-tax-laws/top-story/101010000000316219/‘kiadb’-is-formed-to-do-charity-through-advancement-of-object-of-general-public-utility-sc-dismissed-slp.aspx