Court Allows Trust to Claim Tax Exemptions u/ss 11 & 12; Rent Paid Not Deemed Excessive.

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....Allowability to exemption u/s. 11 & 12 - rent paid by the assessee to the trustees or to the HUF where the karta was the trustee of the respondent-trust - rent paid was much less then 10% of the investment - cannot be held as excessive - exemption allowed - HC....