Assessee has been granted registration under S. 12AA of the Act. \u00a0As per the MOA of the organization its main object is to engage itself in establishing harmony between the construction industry and the govt. \u00a0bodies, financial institutions for promoting healthy growth and development of the construction industry. \u00a0To attain this objective it performed certain ancillary activities like organized fairs, exhibitions and several other inter-connected activities. In such fairs there was the participation of members as well as non-members of the organization for certain consideration. \u00a0It was brought to the notice of the Tribunal that it was expressly mentioned on the invoice that even if any surplus is realised by the assessee, it would be transferred to the \u201cInfrastructure Fund\u201d of the assessee. \u00a0The Tribunal held as this surplus was realised by the assessee while performing the activities ancillary to the main object, the surplus realised is corpus in nature under S.\u00a0 2(15) and not income and hence not chargeable to tax in the hands of the assessee. \u00a0(AY 2012-13)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 11 : Property held for charitable purposes-Surplus from the property held for charitable purpose\u2013Cannot be taxed-When such activities done on such property are ancillary to the main object of the charitable organization-Corpus donation from members is entitle to exemption. [S.2(15), 11(1)(d), 12AA]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-8497","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2d3","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8497","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=8497"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8497\/revisions"}],"predecessor-version":[{"id":8498,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8497\/revisions\/8498"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=8497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=8497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=8497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}