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Issues: Whether the assessee trust was entitled to exemption under sections 11 and 12 of the Income-tax Act, 1961 despite the letting out of the first floor to a firm in which one of the trustees was a partner.
Analysis: The issue was covered by an earlier decision of the same Court in the assessee's own case. Following that view, the Court found no infirmity in the Tribunal's order.
Conclusion: The question was answered in the affirmative, against the assessee and in favour of the Revenue.
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