https://www.taxtmi.com/caselaws?id=70123 The tribunal allowed the appellant trust exemption under section 10(22)/(23C) of the Income Tax Act, affirming its entitlement to the claimed exemption. The trust, primarily running educational institutions, met the criteria for exemption despite the existence of other non-educational objects in its deed. The diversion of funds for non-charitable purposes was deemed permissible as the investments were made at market rates and controlled by the trustees. Additional evidence submitted by the trust was admitted and considered relevant. The tribunal clarified that provisions of sections 11, 12, and 13 were not applicable, focusing solely on section 10(22) for granting exemption. en-us Fri, 03 Jun 2005 00:00:00 +0530 Mon, 17 Jun 2013 10:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70123 The tribunal allowed the appellant trust exemption under section 10(22)/(23C) of the Income Tax Act, affirming its entitlement to the claimed exemption. The trust, primarily running educational institutions, met the criteria for exemption despite the existence of other non-educational objects in its deed. The diversion of funds for non-charitable purposes was deemed permissible as the investments were made at market rates and controlled by the trustees. Additional evidence submitted by the trust was admitted and considered relevant. The tribunal clarified that provisions of sections 11, 12, and 13 were not applicable, focusing solely on section 10(22) for granting exemption. Case-Laws Income Tax Fri, 03 Jun 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70123