1997 (11) TMI 91

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..... we think that the second question need not be touched since the first one deals with the points of controversy between the parties. The question as referred is as follows : "Whether, on the facts and in the circumstances of the case, the Tribunal is justified in allowing exemption under section 11(4A) of the Income-tax Act, 1961, when the Income-tax Officer denied the same for the assessee's fai .....

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..... on of exemption under section 11 of the Act. According to their Lordships if the predominant object is to carry out a charitable purpose and not to earn profit, the charitable purpose would not lose its character merely because some profit has arisen from the activity. The aforesaid ratio is clearly applicable to the facts of the case and we accordingly hold that the assessee was entitled to the g .....

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