Credai-Pune Metro v. ITO (2020) 207 TTJ 1028 (Pune)(Trib.)

S. 11 : Property held for charitable purposes-Holding exhibition-Trust having surplus in one year did not change character of trust to business or profit making entity-Entitle to exemption. [S. 2(15)]

The holding of exhibition by the assessee trust is only furtherance of the charitable activity of the trust wherein, the healthy environment is provided for businessmen so that all the stake holders i.e. businessmen and customers are benefited which were in the nature of charitable activities and these certainly reached out to the greater number of people of the society. It was not disputed that clause in the Memorandum of objects was one of the pertinent object of the assessee trust and fulfillment of such object benefited the public at large by holding the exhibition and therefore, was a part of charitable activity conducted by the assessee trust. (AY. 2011-12, 2012-13)