ITAT allows exemption U/s. 11 on Income earned by Pharmacy shop in Trust Hospital

DCIT Vs National Health & Education Society (ITAt Mumbai) CIT(A) relying upon the order of its predecessor in AY 2010-11 & 2011-12 allowed the appeal of the assessee on the premises that operation of the pharmacy shop was intrinsic to the activities of the assessee and not incidental and did not constitute business and therefore, the provisions of Section 11(4A) were not applicable. The Ld. CIT(A) also noted the observation of Hon’ble Bombay High court made in subsequent order dated 29/09/2014 in review petition filed by the assessee. The revenue is unable to bring any contrary facts...