2007 (1) TMI 104

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.....DINAKARAN, J. 1. The  Revenue has preferred the above tax  case  appeal against the order of the Income-tax Appellate Tribunal dated 16.4.2003  in  ITA No.769/Mds/2000 for the  assessment  year 1995-96  raising the following substantial question  of  law for consideration: "Whether  in  the facts and circumstances  of  the c....

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....; let  out is not  a  business  income,  and allowed  the exemption.  The Appellate Tribunal, on  appeal, held  that the activities of the assessee cannot be  treated as  its  business activities and confirmed the order of  the Commissioner of Income-tax (Appeals).  Hence, the appeal  by the   Revenue,  raisi....

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....tution,  existing solely for educational  purposes  and not  for  purposes  of  profit  is  not  includible  in  the computation of income. 5.  This  Court in C.I.T. v. Kshatriya. Girls Schools  Managing Board  [2000] 245  ITR 170 held that the question of  eligibility to  exemption  under sectio....

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....nbsp; income  derived from  the  Sabha  was  not  its business  income, but its property income and  the  assessee was entitled to exemption under section 11 of the Act. 7.  It  is not in dispute that the main object of  the assessee trust is education.  On the facts of the case,  the Appellate Tribunal found that the assesse....