https://www.taxtmi.com/caselaws?id=17924 Section 11(4A) does not withdraw exemption where a kury business is itself held under trust for charitable purposes; it applies only to profits and gains from a business carried on by a trust or institution subject to the statutory conditions. The earlier position that the business was held in trust, and not conducted as an ordinary business by the assessee, remained unchanged despite the amendment to section 2(15) and deletion of section 13(1)(bb). The income from the kury business therefore continued to qualify for exemption under section 11(1), and the issue was answered in favour of the assessee and against the Revenue. en-us Fri, 10 Jan 1997 00:00:00 +0530 Fri, 25 Sep 2009 16:18:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17924 Section 11(4A) does not withdraw exemption where a kury business is itself held under trust for charitable purposes; it applies only to profits and gains from a business carried on by a trust or institution subject to the statutory conditions. The earlier position that the business was held in trust, and not conducted as an ordinary business by the assessee, remained unchanged despite the amendment to section 2(15) and deletion of section 13(1)(bb). The income from the kury business therefore continued to qualify for exemption under section 11(1), and the issue was answered in favour of the assessee and against the Revenue. Case-Laws Income Tax Fri, 10 Jan 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17924