March 2017

Calcutta H.C : Repayment of loan amounting to Rs.4,54,11,300/- will not amount to an application of the income for charitable purpose under section 11 of the I.T. Act and the same was a clear violation of section 13(1)(c) of the I.T. Act, without coming to a positive conclusion that such repayment of loan is a “benefit” within the meaning of sec. 13(1)(c) read with section 13(2) of the I.T. Act

Avijit Das / March 2, 2017

High Court Of Calcutta Devi Kamal Trust Estate vs. Director Of Income-Tax (Exemption), Kolkata Section 13 Assessment Year 2005-06 Aniruddha