https://www.taxtmi.com/caselaws?id=759066 ITAT Chennai upheld exemption under Section 11 for a charitable trust formed in 1961. The tribunal dismissed revenue's challenge regarding honorarium payment to a trustee, following its earlier decision in favor of the assessee. Regarding loan payment of Rs. 70,25,780 to sister educational trust for college construction, the tribunal found no violation of Section 13(1)(c) as the loan was for charitable purposes and properly documented with invoices and payment details verified by AO per HC directions. en-us Fri, 30 Aug 2024 00:00:00 +0530 Mon, 23 Sep 2024 10:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759066 ITAT Chennai upheld exemption under Section 11 for a charitable trust formed in 1961. The tribunal dismissed revenue's challenge regarding honorarium payment to a trustee, following its earlier decision in favor of the assessee. Regarding loan payment of Rs. 70,25,780 to sister educational trust for college construction, the tribunal found no violation of Section 13(1)(c) as the loan was for charitable purposes and properly documented with invoices and payment details verified by AO per HC directions. Case-Laws Income Tax Fri, 30 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759066