Tribunal held that, profit-making per se cannot be regarded as detrimental as long as it feeds a charitable purpose. Tribunal also held that ‘education’ is a ‘charitable purpose’ per se; however, activities, of an educational trust would not necessarily have to be targeted to serve or educate poor but it should function in conformity with its objects. Matter remanded. (AY. 2017-18)
Lord Shiva Educational Welfare Society v. CIT (2018) 172 ITD 429 (Asr.)(Trib.)
S. 12A : Registration–Trust or institution-Education-Profit-making per se cannot be regarded as detrimental as long as a society pursue a charitable purpose; activities of a trust/institution promoting education need not target to serve poor, but it should function in conformity with its objects- matter remanded. [S.2(15)]