On appeal the High Court held that assessee-trust, carrying on business, was entitled to exemption in respect of income from the business of Chitty/Kurias such income was fully utilized for the purpose of ‘medical relief’, which is the main object of the assessee-trust, falling under the definition of ‘charitable purpose. (AY. 2012-13)
Bharathakshemam v. PCIT (2021) 320 CTR 198 / 199 DTR 113 (Ker.)(HC)
S. 11 : Property held for charitable purposes-Income from business or business held in trust-Main object is for establishing, maintaining and running a hospital for philanthropic purposes and not for the purpose of profit-Entitle exemption. [S. 2(15)]