Exemption u/s 11 cannot be denied on giving interest free loan and renting of property

Brief Facts of the case: Assessee has filed its return of income along with Balance sheet ,Income expenditure A/c and audit report in form 10B declaring NIL Income. This case has been selected for the scrutiny and AO was of the opinion that the following activities which the assessee has entered into, does not fall under charitable activities : a) Providing technical training to Jet Airways India Ltd. and other private companies’ employees; assessee received compensation of  Rs. 87,84,000/- for training and also for providing space on rental basis. (b) Assessee trust gave advance of `97,60,...