https://www.taxtmi.com/caselaws?id=60324 The ITAT allowed the appeal filed by the assessee-trust against the order of the CIT(A)-III, Calcutta for the assessment year 1989-90. The ITAT held that the trust did not violate provisions of sec. 13(1)(c)/13(3) of the IT Act as there was no positive act of using income for the benefit of any person mentioned in the sections. It was determined that the trust had not lent any sum, and the failure to collect outstanding rent did not constitute a violation. Consequently, the trust was deemed eligible for the benefit of exemption under section 11 of the Act, subject to meeting other conditions. en-us Fri, 29 Mar 1996 00:00:00 +0530 Tue, 04 Jan 2011 16:45:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60324 The ITAT allowed the appeal filed by the assessee-trust against the order of the CIT(A)-III, Calcutta for the assessment year 1989-90. The ITAT held that the trust did not violate provisions of sec. 13(1)(c)/13(3) of the IT Act as there was no positive act of using income for the benefit of any person mentioned in the sections. It was determined that the trust had not lent any sum, and the failure to collect outstanding rent did not constitute a violation. Consequently, the trust was deemed eligible for the benefit of exemption under section 11 of the Act, subject to meeting other conditions. Case-Laws Income Tax Fri, 29 Mar 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60324