Purchase of auditorium by trust formed for benefit of artists and actors considered as application of income

IT: Where assessee-trust, created for benefit of artists and actors, spent certain amount for purchase of leasehold rights in an auditorium which would be used for purpose of artists or their families or even serve cause of general public in times of floods or to provide education to children, etc., amount spent by assessee was to be considered as application of income within meaning of section 11(1)(a)

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