https://www.taxtmi.com/caselaws?id=182999 A trust's exemption under sections 11 and 12 was examined in the context of a deposit or loan transaction with a concern in which a trustee had substantial profit-sharing rights. The Tribunal's findings that the loan was adequately secured and that the interest charged was adequate were treated as findings of fact, and, because they were not shown to be unsupported by material, they bound the Court in section 256(2) proceedings. On that basis, section 13 was found inapplicable and the trust remained entitled to exemption under sections 11 and 12. en-us Thu, 31 Aug 1995 00:00:00 +0530 Wed, 25 May 2016 18:50:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182999 A trust's exemption under sections 11 and 12 was examined in the context of a deposit or loan transaction with a concern in which a trustee had substantial profit-sharing rights. The Tribunal's findings that the loan was adequately secured and that the interest charged was adequate were treated as findings of fact, and, because they were not shown to be unsupported by material, they bound the Court in section 256(2) proceedings. On that basis, section 13 was found inapplicable and the trust remained entitled to exemption under sections 11 and 12. Case-Laws Income Tax Thu, 31 Aug 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182999