Whether, on the facts and in the circumstances of the case, the income from the purchase and sale of handicrafts, without setting up educational institutions or training centers for advancement of studies would companystitute charitable purpose and would, as such, qualify for exemption?
It is companytended for the appellants that the objects of the assessee Victoria Technical Institute are charitable purposes and the mere fact that under objects Sub clause f buying and selling or selling on companymission the articles produced by handicraftsmen or otherwise will number disentitle the assessee from the exemption.
This appeal by certificate is from the Judgment and Order of the Madras High Court in T.C. Nos.
383 of 1984 and 780 789 of 1976, since reported in 120 ITR 358.The following two questions of law were referred for the opinion of the High Court Whether the income derived by the assessee from its General Fund and South Indian Women Workers Executive Committee Fund is entitled to exemption under Section 11 of the Income tax Act, 1961, for the assessment years 1962 63 to 1971 72?
