https://www.taxtmi.com/caselaws?id=8055 The High Court held that the activities carried out by the assessee were for profit and not charitable purposes as defined in the Income-tax Act, 1961. Therefore, the income derived from these activities, including arbitration fees and profits from other sources, was not exempt from tax under section 11 of the Act. Each party was directed to bear its own costs. en-us Fri, 25 Sep 1970 00:00:00 +0530 Fri, 27 Mar 2009 17:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8055 The High Court held that the activities carried out by the assessee were for profit and not charitable purposes as defined in the Income-tax Act, 1961. Therefore, the income derived from these activities, including arbitration fees and profits from other sources, was not exempt from tax under section 11 of the Act. Each party was directed to bear its own costs. Case-Laws Income Tax Fri, 25 Sep 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8055