TMI Blog2015 (4) TMI 327X X X X Extracts X X X X X X X X Extracts X X X X ..... ction 13(1)(c) - Held that:- The payments of the aforesaid amounts to the trustees, out of the Trust amount, is not in dispute. The Tribunal has clearly set out the services rendered by these trustees for the Trust and thereafter it has come to the conclusion that the said amount paid, are reasonable and not excessive. When the Trust is availing the services of these trustees and on account of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xemption under Section 11. 2. The assessee is a Trust registered under Section 12A of the Income Tax Act, 1961 (for short hereinafter referred to as the 'Act'). It is running several educational institutions. It filed return of income for the assessment year 2005-06 declaring 'nil' income, after availing the benefit of Section 11 of the Act. In the assessment proceedings, the As ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... trustees for the services rendered by them for the Trust, is not excessive. The increase in the remuneration is in proportion to growth of the institution. It is justified, when a person getting the benefit should pay and there is nothing on record to show that there is any tax planning or colorable device in the above payments. Therefore it affirmed the finding of the First Appellate Authority an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it has come to the conclusion that the said amount paid, are reasonable and not excessive. When the Trust is availing the services of these trustees and on account of the services rendered by them, there is a substantial growth in the Trust and its activities, when the payments are made for such services rendered, it cannot be said that it contravenes Section 13(1)(c) of the Act. Consequently ther ..... X X X X Extracts X X X X X X X X Extracts X X X X
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