Indus Entrepreneurs v. CIT (2019) 70 ITR 19 (Mum.)(Trib.)

S. 11 : Property held for charitable purposes-Charging huge amounts for sponsorship fees from corporate entities on advertisement and free passes–Organisation for networking of entrepreneurs is not an educational institution-Membership is not open to general public-Contributors and beneficiaries are different–Not entitle to exemption. [S. 2(15)]

Dismissing the appeal of the assessee the Tribunal held that Charging huge amounts for sponsorship fees from corporate entities on advertisement and free passes . Assessee organisation for networking of entrepreneurs is not an educational institution. Tribunal also held that  membership is  not open to general public  and contributors and beneficiaries are  different, hence the assessee is not entitle to exemption. (AY.2010-11, 2011-12)