https://www.taxtmi.com/caselaws?id=779506 ITAT held that the trust did not violate sec.13(1)(c) read with sec.13(2)(f)/13(3) as the trustee paid the full consideration (Rs.1.67,50,000) for trust property in tranches, with balance paid before rectification, evidencing market-price sale. Tribunal found CIT(A) erred in sustaining denial of exemption under sec.11. ITAT directed the AO to grant sec.11 exemption to the trust and compute its income accordingly, decision in favour of the assessee. en-us Fri, 19 Sep 2025 00:00:00 +0530 Tue, 07 Oct 2025 08:30:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779506 ITAT held that the trust did not violate sec.13(1)(c) read with sec.13(2)(f)/13(3) as the trustee paid the full consideration (Rs.1.67,50,000) for trust property in tranches, with balance paid before rectification, evidencing market-price sale. Tribunal found CIT(A) erred in sustaining denial of exemption under sec.11. ITAT directed the AO to grant sec.11 exemption to the trust and compute its income accordingly, decision in favour of the assessee. Case-Laws Income Tax Fri, 19 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779506