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2015 (4) TMI 327 - HC - Income TaxEntitlement to exemption u/s. 11 denied - the payments made to the trustees Mr. K.R.Lakshmeesh of ₹ 9,10,000/-, to Dr. Sabita Ramamurthy of ₹ 8,41,950/- and Mr. K.R.Jayadeep of ₹ 1,75,000/- was in violation of Section 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 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 there is no justification for denying the benefit under Section 11 of the Act. - Decided in favour of assessee.
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