Merit International Education ... vs Department Of Income Tax on 12 March, 2012
leased premises obtained from M/s. Merit
Resorts Pvt. Ltd., Chennai ("MRPL" in short), M/s. Nilgiri Enterprises,
Bangalore and M/s. Prince ... held that the rental advances given by the
assessee-trust to MRPL cannot be treated as investment and are in the
nature of application