Assessee is a company, registered under section 12A, was primarily engaged in conducting surveys/research into readership, viewership and listenership of various media and dissemination of research to various members and non-members who were basically industrial business entities.  Assessee outsourced research to outside agencies who prepared Indian Readership Survey (IRS) reports which were sold to subscribers/members (more than 165) and to non-members. The Assessing Officer denied the exemption on the ground that  since assessee’s receipts from its activity even though it was for general public utility exceeded threshold limit of Rs. 10 lakhs, therefore, it  is  not entitled for exemption under section 11. CIT(A) affirmed the order of the Assessing Officer.  On appeal the Tribunal held that    it had to be examined that main activity for which section 12A registration was obtained itself falls within category of carrying of any activity in nature of trade, commerce or business.  Only if it carries out any other activity which falls in such nature, then only proviso to section 2(15) would be applicable.  Lower authorities did not examine same and merely rejected claim under section 11 as receipts exceeded Rs. 10 lakhs. Therefore, matter remanded back to revenue to decide whether nature of receipts of income garnered by assessee in course of carrying out these activities of publishing newspaper could be characterized as in nature of trade, commerce or business for consideration. (AY. 2009-10 to 2013-14)