Supreme Court of India
Director of Income Tax v. M/s. Bharat Diamond Bourse
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1 Supreme Court bench has cited this judgment.
From the headnote
Income Tax Act, 1961; Sections 2(15), II, 13 & 260( ): Charitable Institution-Benefits of exemption under Section I/ Entitlement to-Held, since the dominant purpose of establishment of the assessee-lnstitution being charitable, assessee entitled to benefits under Section I I of the Act. Charitable Institutions-Lending of money to its founder without security-Benefits of exemption under Section I I-Effect on-Held, since assessee lent certain income to prohibited category of person without adequate security and interest, benefit of exemption under Section I I was lost in view of provisions
Where later benches applied it
Of those, 1 mentioned
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