https://www.taxtmi.com/highlights?id=30247 When the loans are given out of the funds borrowed from the society, the A.O. was not correct in holding that the assessee has diverted the funds in violation of the provisions of section 13(1)(d) of the Act. - Exemption u/s 11 allowed - AT en-us Mon, 11 Jul 2016 13:41:21 +0530 Mon, 11 Jul 2016 13:41:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=30247 When the loans are given out of the funds borrowed from the society, the A.O. was not correct in holding that the assessee has diverted the funds in violation of the provisions of section 13(1)(d) of the Act. - Exemption u/s 11 allowed - AT Highlights Income Tax Mon, 11 Jul 2016 13:41:21 +0530 https://www.taxtmi.com/highlights?id=30247