Dismissing the appeal of the revenue the Court held that the Tribunal is justified in holding that assessee which was incorporated with object of promoting awareness and information dissemination with respect to automobile industry, exemption cannot be denied on the ground that the association has collected fees for conducting seminars.
CIT (E) v. Society of Indian Automobile Manufactures (2020) 117 taxmann.com 129 (Delhi) (HC) Editorial : SLP of revenue is dismissed due to low tax effect, CIT (E) v. Society of Indian Automobile Manufactures (2020) 272 Taxman 99 (SC)
S. 11 : Property held for charitable purposes-Trade association-Object of promoting awareness and information dissemination with respect to automobile industry-Fees for conducting seminars-Entitle to exemption. [S. 2(15)]