Charitable purpose - purchase of a BMW car, borrowing of loans ...

Case Laws     Income Tax

November 16, 2012

Charitable purpose - purchase of a BMW car, borrowing of loans from Sindhi Financiers, non-maintenance of regular books of accounts, violations of provisions of Sec.13(1)( c) of the Act in as much as the trustees were paid enormous salary are all by way of passing reference having no relevance to whether or not the Assessee was pursuing education as its main object. - AT

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