Allowing the appeal of the assessee, the Tribunal held that held, on same of facts exemption was granted earlier years and there was no evidence to show that the payment to trustee was excessive or unreasonable accordingly the denial of exemption is held to be not proper. (AY. 2012-13 )
Apne Aap Women Worldwide (India) Trust v. ITO (2019) 69 ITR 84/175 ITD 381/ 177 DTR 193 / 199 TTJ 447 (Mum.)(Trib.)
S. 13 : Denial of exemption-Trust or institution-Investment restrictions–On same of facts exemption was granted earlier years -Denial of exemption is held to be not valid – Payment to trustee- No evidence to show that the payment was excessive or unreasonable -Denial of exemption is not proper. [S.11, 12A, 13(1)(c)(d)]