https://www.taxtmi.com/highlights?id=50540 Exemption u/s 11 - the trust is operating buses to transport the students at free of cost. In case of breakdown, the Managing Trustee offers the vehicles of his own transport business to ferry the students - denial of exemption should only be to the extent of the income which is violative of section 13(1)(d) - The amount t be brought to tax at the maximum marginal rate. en-us Wed, 04 Dec 2019 13:23:55 +0530 Wed, 04 Dec 2019 13:23:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=50540 Exemption u/s 11 - the trust is operating buses to transport the students at free of cost. In case of breakdown, the Managing Trustee offers the vehicles of his own transport business to ferry the students - denial of exemption should only be to the extent of the income which is violative of section 13(1)(d) - The amount t be brought to tax at the maximum marginal rate. Highlights Income Tax Wed, 04 Dec 2019 13:23:55 +0530 https://www.taxtmi.com/highlights?id=50540