2001 (1) TMI 66

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....- At the instance of the Revenue, the following questions have been referred for the opinion of this court under section 256(1) of the Income-tax Act, 1961 (in short the "Act"), by the Income-tax Appellate Tribunal, Delhi Bench "C" (for short the "Tribunal") : "(i) Whether, on the facts and in the circumstances of the case, the Tribunal is correct in law in holding that the running of the busin....

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....f ) [1986] 157 ITR 639, the question has to be answered in the affirmative, in favour of the assessee and against the Revenue. As regards the second question, the Tribunal referred to the language of section 11(2) of the Act and held that clauses (a) and (b) of the section referred to "income derived from property held under trust wholly for charitable or religious purposes." Unless the income ....