COMMISSIONER OF INCOME TAX Vs. MUKUL JAIN MEDICAL INSTITUTE

JUDGEMENT

(1.) THE respondent is state to be an institution which was running a homeopathic dispensary on which the expenditure incurred was approximately Rs. 7,000. It had income from other sources including income from sale of shares which was sought to be taxed by the ITO. Exemption was claimed by the respondent under S. 10(22A) of the IT Act. The exemption was allowed by the Tribunal. The contention of the Revenue was that it is only the income of the hospital or an institution which is derived from its activities as a hospital or institution which is exempt from tax and that income from other sources like the present would be taxable. The question proposed by the Revenue involves the interpretation of S. 10(22A) of the IT, Act and, in our opinion, a question of law does arise.

(2.) WE , therefore, direct the Tribunal to state the case and refer the following question of law to this Court :