https://www.taxtmi.com/caselaws?id=425080 The Tribunal allowed the appeal, granting relief under section 11 of the Income Tax Act for the assessment year 2010-11. The denial of exemption under section 11 due to renting property to an excluded person at a lower rate was overturned. The Tribunal found that the rent charged to the company related to the trustee was justified based on various factors, including the area rented and premium paid, which had not been considered by the lower authorities. The assessing officer and CIT(A) were deemed unjustified in denying the exemption, and relief was granted to the assessee. en-us Wed, 13 Jul 2022 00:00:00 +0530 Fri, 15 Jul 2022 09:13:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425080 The Tribunal allowed the appeal, granting relief under section 11 of the Income Tax Act for the assessment year 2010-11. The denial of exemption under section 11 due to renting property to an excluded person at a lower rate was overturned. The Tribunal found that the rent charged to the company related to the trustee was justified based on various factors, including the area rented and premium paid, which had not been considered by the lower authorities. The assessing officer and CIT(A) were deemed unjustified in denying the exemption, and relief was granted to the assessee. Case-Laws Income Tax Wed, 13 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425080