COMMISSIONER OF INCOME TAX CHANDIGARH vs. M/S IMPROVEMENT TRUST BATHINDA

The appeals are hereby dismissed

Bench: MRS. JUSTICE LISA GILL,MR. JUSTICE DEEPAK MANCHANDA

Section 2(15) must be such as to involve an element of profit. Profit, however, is not the predominant motive of such trusts. In our view considering the nature of the Act, selling of plots and premises by the trust is only incidental and ancillary to its main purpose which at the cost of repetition is "town improvement" in almost

M/S PUNJAB INSTITUTE OF MEDICAL SCIENCES, GARHA ROAD , JALANDHAR vs. COMMISSIONER OF INCOME TAX JALANDHAR AND ANR

MR. JUSTICE SANJEEV PRAKASH SHARMA,MR. JUSTICE SANJAY VASHISTH