{"id":207,"date":"2018-04-29T10:09:07","date_gmt":"2018-04-29T10:09:07","guid":{"rendered":"http:\/\/itatonline.org\/digest\/iim-foundation-v-adit-e-2018-61-itr-186-delhi-trib\/"},"modified":"2018-04-29T10:09:07","modified_gmt":"2018-04-29T10:09:07","slug":"iim-foundation-v-adit-e-2018-61-itr-186-delhi-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/iim-foundation-v-adit-e-2018-61-itr-186-delhi-trib\/","title":{"rendered":"IIM Foundation v.ADIT (E) (2018) 61 ITR  186 (Delhi) (Trib)"},"content":{"rendered":"<p>Dismissing the appeal of the assessee the Tribunal held that ;  the trust has paid hefty salary to related trustees, scholarship in foreign currency , Trustees have  used  luxury cars without maintaining  the log book  and earned high rate of  profit margin hence  denial of exemption was held to be justified . Tribunal also held that donation to another trust was held to be application of income   ( AY. 2007-08 to 2010-11)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 13 : Denial of exemption-Trust or institution-Investment restrictions -High rate of profit margin- Hefty salary to related trustees, scholarship in foreign currency , use of luxury cars without maintaining  the log book  , denial of exemption was held to be justified \u2013 Donation to another trust was held to be application of income [ S. (2(15) , 11, 12, 13 ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-207","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3l","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/207","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=207"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/207\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=207"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}