https://www.taxtmi.com/caselaws?id=62002 Section 11 exemption was considered in relation to income from a Kuri/Chitti business, with section 11(4A) examined as to whether the business work was mainly carried on by the beneficiaries. The expression was read in the context of the earlier pari materia language in the 1922 Act and was construed to require that the business be managed and controlled in substance for the benefit of the institution, not that every beneficiary personally conduct the business. As the revenue did not dispute the assessee's charitable character, application of income for charitable purposes, or maintenance of separate books of account, section 11(4A) did not disqualify the assessee from exemption under section 11. en-us Mon, 11 Feb 2002 00:00:00 +0530 Mon, 17 Jan 2011 15:53:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62002 Section 11 exemption was considered in relation to income from a Kuri/Chitti business, with section 11(4A) examined as to whether the business work was mainly carried on by the beneficiaries. The expression was read in the context of the earlier pari materia language in the 1922 Act and was construed to require that the business be managed and controlled in substance for the benefit of the institution, not that every beneficiary personally conduct the business. As the revenue did not dispute the assessee's charitable character, application of income for charitable purposes, or maintenance of separate books of account, section 11(4A) did not disqualify the assessee from exemption under section 11. Case-Laws Income Tax Mon, 11 Feb 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62002