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1980 (3) TMI 29 - HC - Income TaxExtract: .......levant years, however, it appears that even the advancement of the purpose did not involve the carrying on of any activity for profit. The assessee is clearly entitled to the exemption under s. 11(1)(a) of the Act. For the reasons outlined above, we answer the question in the affirmative and in favour of the assessee, but make no order as to costs.
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