Case base Query on Exemption u/s 11

Sagarika (CA) (41 Points)

20 February 2008  

Following are the facts of a case on which I need your opinion for exemption u/s11

1)A trust has been formed to provide medical facilities to public..

2)Trust gives medical services to a pvt ltd company for which it charges adequate consideration.

3)That company is covered u/s 13(3)

My question is :

Is amount charged from pvt ltd co by trust for medical services is exempt u/s11?