2016 (5) TMI 1560 - HC - Income Tax

Exemption u/s 11 and 12 - Whether Respondent National Accreditation Board For Testing and Calibration Laboratories is entitled to exemption? - HELD THAT - The positive findings of the ITAT on facts is that the Assessee is not engaged in trade, commerce and business and its dominant and prime objective is charitable in nature in accordance with Section 2(15) of the I.T. Act, 1961. The Court also notes that the Respondent is part of the central government. The Court is unable to be persuaded to hold that the findings of the ITAT are perverse. No substantial question of law arises.

Summary

The Delhi High Court dismissed the appeal regarding the entitlement of the National Accreditation Board For Testing and Calibration Laboratories to exemption under Section 11 and 12 of the Income Tax Act, 1961. The Court upheld the positive findings of the Income Tax Appellate Tribunal that the Assessee is a charitable institution and not engaged in trade, commerce, or business.