No denial of Sec. 11 exemption to trust if surplus earned on running and managing hostel for its dental college: HC

INCOME TAX : Where assessee trust was running a dental college and was also running and managing hostel for residence of students admitted in said college, since, activity of running hostel was not a separate business activity, surplus income from hostel fee could not be treated as profit and gains of a separate business or commercial activity of trust, hence, exemption under section 11(1) could not have been disallowed to assesseeINCOME TAX : Where assessee trust was running a dental college and was also running and managing hostel for residence of students admitted in said college, since, activity of running hostel was not a separate business activity, surplus income from hostel fee could not be treated as profit and gains of a separate business or commercial activity of trust, hence, exemption under section 11(1) could not have been disallowed to assesseewww.taxmann.com Latest Case LawsRead More

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