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2006 (12) TMI 182 - AT - Income TaxExtract: .......rofit or surplus feeds the charitable purpose under the terms of the trust, the mere fact that the activities of the trust yield profit will not alter the charitable character of the trust. 5. The grounds as well as appeal are, thus, allowed in favour of the assessee. 6. In the result, both the appeals are, thus, allowed in favour of the assessees.
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