https://www.taxtmi.com/caselaws?id=325562 The Tribunal held that although Poddar Trust was a prohibited person under section 13(3), the loan transaction did not violate section 13(1)(d) read with section 11(5). Therefore, the assessee trust was entitled to exemption under section 11 of the Income Tax Act, 1961. The appeal of the Revenue was dismissed, affirming the CIT (A)'s decision to grant exemption. en-us Fri, 05 Feb 2016 00:00:00 +0530 Wed, 23 Mar 2016 09:54:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325562 The Tribunal held that although Poddar Trust was a prohibited person under section 13(3), the loan transaction did not violate section 13(1)(d) read with section 11(5). Therefore, the assessee trust was entitled to exemption under section 11 of the Income Tax Act, 1961. The appeal of the Revenue was dismissed, affirming the CIT (A)'s decision to grant exemption. Case-Laws Income Tax Fri, 05 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325562