Exemption under section 11 of the Act

Dear Sir, A charitable trust registered under section 12A(a) of the Act. The Society has been allotted land by DDA for the purpose of charitable activities. Now, the Society rented out part building to Limited Companies and the said rent receipts were spent on renovation/construction of the said building. Can the Society claim exemption under section 11 of the Act?   Please clarify.

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