Assessee-trust granted loan scholarships to Indian students in India for their higher education overseas. It filed nil return claiming exemption under section 11.  Assessing Officer held  that assessee had given loan/grants to various students who were studying outside India hence denied claim of exemption on ground that charitable purpose and its execution should be in India. CIT(A) allowed the claim. On appeal the Tribunal held that   in assessee’s own case for assessment year 2012-13 held that loan scholarships given to Indian students in India for education/higher education abroad would be considered as application of income for charitable purposes in India and, thus, would qualify for exemption under section 11. Appeal of Revenue is dismissed.