https://www.taxtmi.com/caselaws?id=216053 The tribunal allowed the appeal, granting the assessee exemption under Section 11 of the Income-tax Act, 1961. It held that the loans given were not investments or deposits, thus not violating Section 13(1)(d). Emphasizing consistency, the tribunal noted no disallowance in prior or subsequent years for similar transactions. The Assessing Officer's denial of exemption was deemed unjustified, directing the AO to provide the exemption under Section 11. en-us Mon, 28 Feb 2011 00:00:00 +0530 Mon, 11 Apr 2016 15:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216053 The tribunal allowed the appeal, granting the assessee exemption under Section 11 of the Income-tax Act, 1961. It held that the loans given were not investments or deposits, thus not violating Section 13(1)(d). Emphasizing consistency, the tribunal noted no disallowance in prior or subsequent years for similar transactions. The Assessing Officer's denial of exemption was deemed unjustified, directing the AO to provide the exemption under Section 11. Case-Laws Income Tax Mon, 28 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216053