https://www.taxtmi.com/caselaws?id=17695 The court confirmed the Tribunal's decision, ruling in favor of the Revenue and against the assessee. It held that the trust's property use for the benefit of a prohibited person under section 13(3) denied the trust exemption benefits. The court emphasized the strict application of section 13 to safeguard trust income and property from misuse by prohibited individuals, affirming that even movable property like a refrigerator falls under these provisions. en-us Thu, 08 Aug 1996 00:00:00 +0530 Thu, 24 Sep 2009 12:08:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17695 The court confirmed the Tribunal's decision, ruling in favor of the Revenue and against the assessee. It held that the trust's property use for the benefit of a prohibited person under section 13(3) denied the trust exemption benefits. The court emphasized the strict application of section 13 to safeguard trust income and property from misuse by prohibited individuals, affirming that even movable property like a refrigerator falls under these provisions. Case-Laws Income Tax Thu, 08 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17695