https://www.taxtmi.com/caselaws?id=207400 The Tribunal held that the generation of surplus by the assessee trust does not indicate a profit motive. Capital expenditure should be treated as an application of income under section 11. The fees collected were not considered excessive or capitation fees. Running a 'finishing school' was deemed integral to educational activities. Payment of remuneration to the trustee was found permissible. The Assessing Officer was given adequate opportunity during appeal proceedings. The Tribunal upheld the CIT(A)'s decision, allowing the assessee's cross-objection and confirming exemption under section 11. en-us Fri, 29 Jul 2011 00:00:00 +0530 Thu, 13 Oct 2016 14:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207400 The Tribunal held that the generation of surplus by the assessee trust does not indicate a profit motive. Capital expenditure should be treated as an application of income under section 11. The fees collected were not considered excessive or capitation fees. Running a 'finishing school' was deemed integral to educational activities. Payment of remuneration to the trustee was found permissible. The Assessing Officer was given adequate opportunity during appeal proceedings. The Tribunal upheld the CIT(A)'s decision, allowing the assessee's cross-objection and confirming exemption under section 11. Case-Laws Income Tax Fri, 29 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207400