Hamdard eligible for exemption u/s 10(23C) (iv) for business held in trust, as dominant purpose of assessee is charitable

Brief of the Case Delhi High Court held In the case of Hamdard Laboratories India and Anr vs. ADIT (E) & DGIT (E) that Hamdard‟s objects are charitable in nature and its activities relating to manufacture and sale of unani medicines and other allied businesses are only meant to act as a source of funds for its charitable activities. It is undisputedly a case of a business held in trust, and Hamdard has been consistently applying the proceeds of its activities for charitable purposes. On the matter of accumulation of profits more than permissible years, this Court finds that the DGIT(E) ...