https://www.taxtmi.com/caselaws?id=447248 ITAT Jodhpur upheld exemption u/s 11(1)(d) for assessee-trust that utilized corpus donation to repay bank loan taken for land purchase. The trust received foreign donation for hospital construction but used funds for loan repayment due to project delays caused by HC order. ITAT held no violation occurred as donor consented to fund utilization, source was properly explained, and activities remained within charitable objects. Revenue's appeal dismissed as trust's actions were covered under section 11(1)(d) provisions. en-us Tue, 19 Dec 2023 00:00:00 +0530 Thu, 21 Dec 2023 09:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447248 ITAT Jodhpur upheld exemption u/s 11(1)(d) for assessee-trust that utilized corpus donation to repay bank loan taken for land purchase. The trust received foreign donation for hospital construction but used funds for loan repayment due to project delays caused by HC order. ITAT held no violation occurred as donor consented to fund utilization, source was properly explained, and activities remained within charitable objects. Revenue's appeal dismissed as trust's actions were covered under section 11(1)(d) provisions. Case-Laws Income Tax Tue, 19 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447248