https://www.taxtmi.com/caselaws?id=70600 Income from letting out a kalyanamandapam held as an investment of trust funds was treated as property income, not business income, so the trust was not carrying on a business for profit. As the objects had already been accepted as advancement of education and relief to the poor, the exemption under section 11 was upheld. Section 13(1)(bb) did not apply on these facts because it is directed to business income, and the denial of exemption on that basis was unsustainable. en-us Fri, 27 Jul 1984 00:00:00 +0530 Mon, 18 Apr 2011 11:11:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70600 Income from letting out a kalyanamandapam held as an investment of trust funds was treated as property income, not business income, so the trust was not carrying on a business for profit. As the objects had already been accepted as advancement of education and relief to the poor, the exemption under section 11 was upheld. Section 13(1)(bb) did not apply on these facts because it is directed to business income, and the denial of exemption on that basis was unsustainable. Case-Laws Income Tax Fri, 27 Jul 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70600