THE COMMISSIONER OF INCOME TAX, HYD vs. CARGO HANDLING PRIVATE WORKERS POOL, VISAKHAPATNAM

Accordingly, the I.T.T.A. is dismissed

Bench: C.PRAVEEN KUMAR,TARLADA RAJASEKHAR RAO

Section 2(15) of the Act, held as under: “….. As a rule, if the terms of the trust permit its operation "for profit", they become prima facie evidence of a purpose falling outside charity. They would indicate the object of profit-making unless and until it is shown that terms of the trust compel the trustee to utilise the profits