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2016 (9) TMI 57 - HC - Income TaxEntitlement to exemption u/s 11 - whether the earning of income from the four streams would disentitle it to exemption in terms of section 11(4A) of the Act? - Held that:- The Income-tax Appellate Tribunal has, in the impugned order, while reversing the decision of the Assessing Officer and the Commissioner of Income-tax (Appeals), accepted the case of the assessee that the activities in question were incidental to the main activity of the hospital itself and were not undertaken with a profit earning motive. The Income-tax Appellate Tribunal also noticed that for the assessment years earlier and later to the assessment year in question, the Assessing Officer accepted the assessee's case and allowed its claim for exemption. In particular, the Income- tax Appellate Tribunal has accepted the contention of the assessee that it maintained separate ledgers for each of the sources of income and thereby fulfilled the requirement of section 11(4A) of the Act. Having heard the learned counsel for the parties, the court is of the view that the view taken by the Income-tax Appellate Tribunal on the basis of the record is a plausible one and does not give rise to any substantial questions of law
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