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1980 (1) TMI 206 - MADRAS HIGH COURTExtract: .......72/- and for 1969-70 ₹ 667/-. These figures are eloquent to show that the assessee had not indulged in any activity for profit. It is, therefore, manifest that the assessee is clearly entitled to the exemption under s. 11 of the Act. The question is answered in the affirmative and in favour of the assessee. There will be no order as to costs.
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