S. 11 : Property held for charitable purposes – Charitable activities results in a surplus does not mean that assessee exists for profit- If the surplus is ploughed back into the same charitable activities, the assessee cannot be said to be carrying out commercial activities in the nature of trade, commerce or business- Entitle to exemption . [ S.2(15) 12, 12AA ]
DIT(E) v. Gujarat Cricket Association ( 2019) 419 ITR 561/ 184 DTR 97 /(2020) 314 CTR 297/(Guj)(HC),www.itatonline.org DIT ( E ) v. Baroda Cricket Association ( 2019) 419 ITR 561/ 184 DTR 97/(2020) 314 CTR 297 (Guj)(HC),www.itatonline.org DIT (E ) v. Saurashtra Cricket Association ( 2019) 419 ITR 561/ 184 DTR 97/ (2020) 314 CTR 297 (Guj)(HC),www.itatonline.org Editorial: Orders of Tribunal in Gujarat Cricket Association v JCIT / Baroda Cricket Association v .JCIT, Saurashtra Cricket Association v.JCIT ( 2019) 202 TTJ 409 / 183 DTR 367( Ahd) (Trib) is affirmed .