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
234] :
“[I]f the activity of a trust consists of carrying on a
business and there are no restrictions on its making
profit, the court would be well justified in assuming
in the absence of some indication to the contrary
that the object of the trust involves the carrying on
of an activity for profit.”
And to the same effect
