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Providing golf facilities to members for promotion of Golf was charitable in nature: HC

April 16, 2019[2019] 106 58 (Bombay)/[2019] 264 Taxman 55 (Bombay)

IT: Where main object of assessee golf club was to provide golf facilities to its members for promotion of this sport and there was no element of activity of assessee club being in nature of trade, commerce or business, then interest earned from banks or financial institutions on investment of surplus funds arising from charitable activities was exempted from tax
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