Dismissing the appeal of the revenue the Court held that; Rent paid to trustees for using land and building was not excessive considering the fair market value of the property, exemption cannot be denied. (AY. 2010-11)
CIT v. Bholaram Education Society ( 2018) 100 taxmann.com 508 / (2019) 260 Taxman 369 (Guj.) (HC) Editorial : SLP of revenue is dismissed CIT v. Bholaram Education Society (2019) 260 Taxman 368 (SC)
S. 11 : Property held for charitable purposes-Rent paid to trustees for using land and building–Fair market value-Rent paid to Trustees was not excessive considering the fair market value of the property – Exemption could not be denied. [S. 12, 13(3)]