TMI Blog2002 (1) TMI 1291X X X X Extracts X X X X X X X X Extracts X X X X ..... n the facts and in the circumstances of the case, the Appellate Tribunal was justified in law in holding that the assessee was entitled to claim exemption of its income under section 11 of the Income-tax Act, 1961 ? This question has been raised by the revenue in respect of the assessment years 1976-77, 1978-79 and 1980-81. 2. The assessee is a charitable trust. It is running a tent house a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the income derived by the assessee was not being utilised for any charitable purpose. Thus, exemption under section 11 could not have been granted. 5. A perusal of the order of assessment shows that the exemption has been denied to the assessee only on the ground that a charitable trust could not run a business. This view was not accepted by the appellate authority as well as the Tribunal ..... X X X X Extracts X X X X X X X X Extracts X X X X
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