[aaykarbhavan] Sacred Cow! No revocation of registration of trust working for welfare of cows if it made profit from sale of milk

 

Sacred Cow! No revocation of registration of trust working for welfare of cows if it made profit from sale of milk

June 9, 2014[2014] 45 taxmann.com 220 (Mumbai - Trib.)/[2014] 148 ITD 343 (Mumbai - Trib.)

IT : Where assessee-trust was established for purpose of cow breeding and protection of cows and oxen, incidental income earned by it from sale of milk could not be regarded as carrying on activity of trade or commerce within meaning of proviso to section 2(15)

IT : Where purpose of a trust or institution is relief of poor, education or medical relief, it would constitute charitable purpose, even if it incidentally involves carrying on of commercial activity

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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