Income Tax Appeal: Trust's Kuri Business Profits Members, Denied Exemption u/s 11, Fails Section 2(15) Criteria.

Exemption u/s 11 - CIT-A observed that proceeds of kuri business in the case of the assessee substantially benefited the members or subscribers and the predominant object was to generate profit in the hands of subscribers - The activity carried on by the assessee-Trust in the form of kuri business is hit by the proviso to section 2(15) - exemption cannot be allowed - AT .....

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