Assessee-trust was set up with object to address national issues relating to real estate sector and better standard for its all member associations.  Assessing Officer held that trust was existing for a specific group of persons, i.e., real estate professionals/finance companies/investors, etc., and not for public at large and was carrying out activities, i.e., holding conventions, seminars, etc., which were clearly in nature of trade, commerce or business, involving no element of charity and, therefore, it could not be held to be a trust set up for advancement of any other object of general public utility and, consequently, he denied benefit of exemption under section 11 to assessee by applying proviso to section 2(15) of the Act. Tribunal held that holding of convention by assessee-trust, and resultant receipts therein generated by it, i.e., participant fees, sponsorship fees were clearly in nature of activities that were carried out by assessee with sole intent of attaining object for which trust was established. Accordingly denial of exemption is held to be not valid. (AY. 2014-15, 2016-17)