In the result, the appeal is allowed for statistical purposes
Bench: S/Shri Nrs Ganesan & Sanjay Arora
gains of business, the condition that such income would not be liable to inclusion in its total income under the provisions of section 11 shall not apply in relation to such income, if— (a) the institution or fund maintains separate books of account in respect of such business; (b) the donations made to the institution or fund are not used