https://www.taxtmi.com/caselaws?id=16167 The court affirmed that the petitioner, a charitable trust operating a newspaper, is entitled to tax exemption under section 11 of the Income-tax Act. It was held that the trust's income from the newspaper business is held for charitable purposes, qualifying for exemption. The court ruled that the amended section 11(4A) does not apply to businesses held in trust for charitable purposes, and thus, the trust's income from the newspaper business remains exempt from tax. The writ petitions were allowed, and assessments for relevant years are to be redone without invoking section 11(4A), with parties bearing their own costs. en-us Thu, 15 Oct 1998 00:00:00 +0530 Tue, 01 Sep 2009 15:31:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16167 The court affirmed that the petitioner, a charitable trust operating a newspaper, is entitled to tax exemption under section 11 of the Income-tax Act. It was held that the trust's income from the newspaper business is held for charitable purposes, qualifying for exemption. The court ruled that the amended section 11(4A) does not apply to businesses held in trust for charitable purposes, and thus, the trust's income from the newspaper business remains exempt from tax. The writ petitions were allowed, and assessments for relevant years are to be redone without invoking section 11(4A), with parties bearing their own costs. Case-Laws Income Tax Thu, 15 Oct 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16167