M/S QUEEN'S EDUCATIONAL SOCIETY vs. COMMR.OF INCOME TAX
C.A. No.-005167-005167 - 2008Supreme Court16 Mar 2015
Bench: The Uttarakhand High Court, Nainital, May Be Gleaned From The Facts Of One Of Them, Namely, The Queen’S Educational Society Case. The Appellant Filed Its Return For Assessment Years 2000-2001 & 2001-2002 Showing A Net Surplus Of Rs.6,58,862/- & Rs.7,82,632/- Respectively. Since The Appellant Was Established With The Sole 2
Section 10Section 10(22)Section 260A
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JUDGMENT
to so carry on the activity that the expenditure
balances the income and there is no resulting profit.
That would not only be difficult of practical
realisation but would also reflect unsound principle
of management. We, therefore, agree with Beg, J.,
when he said in Sole Trustee, Loka Shikshana
Trust case
