https://www.taxtmi.com/caselaws?id=358198 Exemption under sections 11 and 12 could not be denied on a mere allegation of trustee benefit without cogent supporting material. On the Mercedes Benz issue, conflicting facts on vehicle use meant the record did not conclusively show personal use by trustees, so the matter was remanded to the Assessing Officer for verification. On the related-party construction transaction, the trust's payment for land acquisition was treated as a commercial arrangement and no undue benefit or other section 13 violation was established. The exemption denial was therefore not sustained on that issue. en-us Tue, 30 Jan 2018 00:00:00 +0530 Sat, 07 Apr 2018 07:56:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358198 Exemption under sections 11 and 12 could not be denied on a mere allegation of trustee benefit without cogent supporting material. On the Mercedes Benz issue, conflicting facts on vehicle use meant the record did not conclusively show personal use by trustees, so the matter was remanded to the Assessing Officer for verification. On the related-party construction transaction, the trust's payment for land acquisition was treated as a commercial arrangement and no undue benefit or other section 13 violation was established. The exemption denial was therefore not sustained on that issue. Case-Laws Income Tax Tue, 30 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358198