Purchasing car in name of trustee is in violation of sec. 13; HC ruled denial of exemption upto car amount

IT: Where funds of assessee-trust were utilized for purchase of car in name of its trustee, there was violation of section 13(2)(b), read with section 13(3); however, denial of exemption under section 11 should be limited only to amount which was diverted in violation of section 13(2)(b)

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