https://www.taxtmi.com/caselaws?id=70569 The Appellate Tribunal ITAT Madras-D ruled in favor of the assessee trust in a case concerning exemption under Sec. 11 for investments with related parties. The Tribunal determined that the advances made were loans with adequate security and interest, not investments, as per the CBDT circular. It remitted the matter to the ITO to verify compliance with conditions under s. 13(2)(a) for exemption, emphasizing the distinction between investments and loans. Consequently, the appeal for the assessment year 1976-77 was allowed, while the departmental appeals for 1977-78 were dismissed for statistical purposes. en-us Thu, 12 Mar 1981 00:00:00 +0530 Mon, 18 Apr 2011 10:17:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70569 The Appellate Tribunal ITAT Madras-D ruled in favor of the assessee trust in a case concerning exemption under Sec. 11 for investments with related parties. The Tribunal determined that the advances made were loans with adequate security and interest, not investments, as per the CBDT circular. It remitted the matter to the ITO to verify compliance with conditions under s. 13(2)(a) for exemption, emphasizing the distinction between investments and loans. Consequently, the appeal for the assessment year 1976-77 was allowed, while the departmental appeals for 1977-78 were dismissed for statistical purposes. Case-Laws Income Tax Thu, 12 Mar 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70569