2021 (10) TMI 1412

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..... ment to section 2[15] - HELD THAT:- As the issue involved herein is squarely covered by the Co-ordinate Bench ruling of this Court in the assessee s own case in Karnataka Industrial Area Development Board [ 2020 (11) TMI 483 - KARNATAKA HIGH COURT] As no reasons to differ from the findings of the Co-ordinate Bench on the issue involved herein. Hence, we answer the substantial questions of law .....

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..... even though the activities carried out by the assessee comes under amended provisions of Section 2[15] of the Act? 2. Whether on the facts and in the circumstances of the case, that the Tribunal was right in holding that the assessee is entitled for exemption under Section 11 of the Act without appreciating that intention of legislature in making amendment to section 2[15] of the Act is to ke .....

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..... hit by proviso to section 2[15] of the Act which says that the advancement of any other object of general public activity shall not be charitable purpose if it involves the carrying on of any activity in the nature of trade, commerce or business or any activity of rendering any service in relation to any trade, commerce or business, for a cess or fees or any other consideration, irrespective of th .....

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