Entire exemption u/s. 11 cannot be denied for short charging of rent from trustee: ITAT Nagpur

DCIT Vs Jaymahakali Shikshan Sanstha Bapuchiwadi (ITAT Nagpur) ITAT Nagpur held that short charging of rent from the trustee cannot be reason for denial of entire claim of exemption under section 11 of the Income Tax Act. Accordingly, order of CIT(A) upheld and appeal of revenue dismissed. Facts- The assessee respondent is an Educational Trust registered u/s. 12A of the Income Tax Act, 1961. During the course of assessment proceedings, it was observed that the assessee trust has provided an residential accommodation to the trustee of the trust and has recovered an annual rent of Rs. 1,20,000, ...