Dismissing the appeal of the revenue the Court held that temporary advance of money to group trust which has the similar objects there is no violation hence the Tribunal was justified in allowing the exemption . (AY. 2008 -09 )
CIT v. Daughters of Marry Immaculate & Collaborators ( 2021) 200 DTR 210( Mad) (HC)
S. 13 : Denial of exemption-Trust or institution-Investment restrictions – Advance of money to group trust which are having similar objection – Denial of exemption is held to be not valid [ S. 11(5), 13(1)(d)]