https://www.taxtmi.com/caselaws?id=310893 The ITAT Amritsar allowed the appeal of an educational trust operating a Bachelor of Education college recognized by Jammu University. The AO had denied exemption under section 10(23C)(iiiad) alleging violations of sections 13(1)(c) and 13(2)(a)(b)(d)(g) due to interest-free advances made to trustees and settlers. The ITAT held that section 13 provisions govern sections 11 and 12, not section 10, making them inapplicable. The AO and CIT(A) failed to establish specific violations or provide conclusive findings on how provisions were breached. The trust's income was properly utilized for educational purposes through the university, warranting the exemption. en-us Mon, 13 Jun 2022 00:00:00 +0530 Thu, 23 Nov 2023 19:53:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310893 The ITAT Amritsar allowed the appeal of an educational trust operating a Bachelor of Education college recognized by Jammu University. The AO had denied exemption under section 10(23C)(iiiad) alleging violations of sections 13(1)(c) and 13(2)(a)(b)(d)(g) due to interest-free advances made to trustees and settlers. The ITAT held that section 13 provisions govern sections 11 and 12, not section 10, making them inapplicable. The AO and CIT(A) failed to establish specific violations or provide conclusive findings on how provisions were breached. The trust's income was properly utilized for educational purposes through the university, warranting the exemption. Case-Laws Income Tax Mon, 13 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310893