The Assessee is a Trust registered with Director of Income Tax (E), Mumbai under Section 12A of the Act. The Assessee, Trust was constructing houses for its members and this was the only activity of the Trust for the last 50 years. the Assessing Officer held  that the Assessee had collected Rs.1.15 crores as transfer fees from new members and the Assessee – Trust was also in receipt of interest on investment amounting to Rs.1,07,67,876/-. The Assessing Officer was, therefore, of the view that the Assessee was engaged in a commercial activity by constructing houses on the property of the Assessee Trust and was selling the same to the members. The members and the Assessee Trust were alienating the flat along with the membership, and for this alienation, the Trust had collected a sum of Rs.6.35 crores as transfer fees from its members till date. Therefore, the Assessing Officer held  that the activity of the Trust was not found charitable in nature and was found commercial in nature. The CIT(A) held  that there is no case of sale consideration, or sale of houses in the market, and there is no transaction of sale or purchase in the admission of the new member in place of the defaulting member, who is admitted only after specifying the eligibility conditions in that behalf and confirming the Deed of the Trust and its objects. Tribunal affirmed the order of the CIT(A) .  The Hon High Court held  that the entire case has been decided purely on facts. The ITAT is the last fact finding authority which has came to the conclusion that the Assessee Trust is not carrying on any commercial activity and, therefore, is entitled to the exemption under Section 11 of the Act. This finding of the ITAT is purely based on the facts of the case, and which facts were also analyzed by the CIT(A) before he partly allowed the Appeal of the Assessee Trust.