https://www.taxtmi.com/caselaws?id=367822 The Tribunal found that the trustees did not have substantial interest in the companies, thus dismissing the violation of section 13(1)(c). Regarding section 13(1)(d), the Tribunal ruled that the remuneration paid to trustees was not proven to be excessive or unreasonable, overturning the allegation. Consequently, the Tribunal set aside the lower authorities' decisions, instructing the Assessing Officer to grant exemption under sections 11 & 12 to the assessee. The appeals of the assessee were allowed, and the order was pronounced on 24/09/2018. en-us Mon, 24 Sep 2018 00:00:00 +0530 Wed, 26 Sep 2018 08:50:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367822 The Tribunal found that the trustees did not have substantial interest in the companies, thus dismissing the violation of section 13(1)(c). Regarding section 13(1)(d), the Tribunal ruled that the remuneration paid to trustees was not proven to be excessive or unreasonable, overturning the allegation. Consequently, the Tribunal set aside the lower authorities' decisions, instructing the Assessing Officer to grant exemption under sections 11 & 12 to the assessee. The appeals of the assessee were allowed, and the order was pronounced on 24/09/2018. Case-Laws Income Tax Mon, 24 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367822