Dismissing the appeal of the revenue the Court held that the income derived from letting out of Kalyana Mandapam, Community Hall and Gnanavapi owned by the assessee , the income from the house property or business income since utilization of the surplus income from the running of Kalyana Mandapam, Community Hall and Gnanavapi are for the objects of the trust, it is exempted from tax. (AY. 2010-11 , 2011-12)
Sri Ram Samaj v. JCIT (2020) 275 Taxman 309 / 194 DTR 177 (Mad.)(HC)
S. 11 : Property held for charitable purposes – Engaged in running educational institutions and providing medical relief to poor – Running community hall – Entitle to exemption [ S. 2(15), 11(4A)]