Entitlement to exemption u/s 11 - If interest, rent and other income are excluded and compared with the...

Entitlement to exemption u/s 11 - If interest, rent and other income are excluded and compared with the expenditure on operations incurred by the Assessee, it becomes clear that the Assessee does not have profit motive. The proviso to Sec.2(15) of the Act is therefore not applicable - AT .....

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