2001 (6) TMI 31

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.... of the Income-tax Act, 1961, this court has directed to refer the following question for our opinion: "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that there was no violation of any of the provisions of section 13 of the Income-tax Act, 1961, by the assessee trust in advancing money amounting to Rs. 98,000 to the two employees to war....

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....indirect accommodation to a person referred to in section 13(3) of the Act. Therefore, it is hit by the mischief of the provisions of sections 13(1)(c) and 13(2)(a) of the Income-tax Act. In appeal before the Commissioner of Income-tax (Appeals), the Commissioner of Income-tax (Appeals) found that the appellant-trust cannot be said to have used any part of its income directly or indirectly for ....

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.... 785, has considered one of the questions whether the word and phrase "trust" and the "institution" referred to entities differently constituted. Sub-section (3) of section 13, clause (cc) provides that any trustee of the trust or manager (by Whatever name called) of the institution that comes within the persons referred in clause (cc) of sub-section (1) and sub-section (2) for the purpose of e....

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.... be held that for the assessment years in question the trust was not entitled to the exemption contained in section 11 in respect of the income of its newspaper." When the trust and institution referred to in section 13 are not one and the same thing and they are different entities clause (cc) of sub-section (3) of section 13 refers to the manager of the institution and not the manager of the t....