[aaykarbhavan] CHOOL RUN BY A CHARITABLE TRUST

A charitable Trust registered U/s 12A of Income Tax Act is running a CBSC School and many other charitable institututions such as orphanage etc. In the School fees is collected from students and fee concession is given to the needy . In the income tax return the income from the school is shown as 'income from other sources' . But assessing authirity is of the opinion that the income from school must be shown as 'Business Income' . The trust is not running the school as a business venture and the objects of the trust include running of educational institutions.  Is the  opinion of the assessing authority  correct.

ktmandco

 

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