The income Tax Tribunal allowed Tata Trusts' tax exemption on loan scholarships for Indian students studying abroad, ruling the funds were applied in India. The case raises questions on why tax exemptions depend on where money is spent rather than who benefits.
The income Tax Tribunal allowed Tata Trusts' tax exemption on loan scholarships for Indian students studying abroad, ruling the funds were applied in India. The case raises questions on why tax exemptions depend on where money is spent rather than who benefits.
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