MSME registered for Skill Development not eligible for Income Tax Exemption under Section 12AA of Income Tax Act: ITAT [Read Order]

MSME - Income - Tax - Exemption - under - Income - Tax - Act - ITAT - TAXSCAN

The Amritsar Bench of Income Tax Appellate Tribunal (ITAT) presided over by M.L.Meena (Accountant Member) and Anikesh Bnerjee (Judicial Member) upheld the decision of the Commissioner of Income Tax (Appeals). The tribunal found that Micro Small Medium Enterprises (MSME) formed for skill development of people do not qualify as “Charitable Purposes” under section 2(15) of…

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