Dismissing the appeal of the revenue the Court held that object of the society is charitable in nature and the profit earned from running a printing press and publishing a news paper was ploughed back to charitable activities. The assessee is entitle to exemption. Proviso to section 2(15) is not applicable.
PCIT v. Servants of People Society (2021) 208 DTR 409 (2022) 324 CTR 167 /284 Taxman 461 /133 taxmann.com 244 / 447 ITR 99 (Delhi)(HC)
S. 11 : Property held for charitable purposes-Running a printing press and publishing a news paper-Profit generated was ploughed back to charitable activities-Entitle to exemption. [S. 2(15), 10(23C)(vi), 12A, 80G]