1993 (2) TMI 20

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..... The trustees of the trust received by way of a donation, fixed deposit receipts with Messrs. Raja Bahadur Motilal Mills Ltd. from certain donors towards the corpus of the trust fund. The assessee claimed that the provisions of section 13(2)(a) or 13(2)(h) were not attracted in this case. This contention was rejected by the Income-tax Officer. The Appellate Assistant Commissioner agreed with the ....

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....if it satisfies the provisions set out therein. Under section 13, however, section 11 will not apply in certain cases. One such case is set out under section 13(2)(a). It provides that the income or the property of the trust shall be deemed to be used or applied for the benefit of person referred to in sub-section (3) and would, therefore, not qualify for exemption "(a) if any part of the income o....