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2017 (5) TMI 170 - HC - Income TaxExemption u/s 11 - the loan was given without interest to the person referred to in section 13(3) which is in contravention to the provisions of section 13(2)(a) of the Income Tax Act, 1961 - whether the assessee has contravened the provisions of section 13(1)(c) and 13(3) of the Income Tax Act, 1961 or not? - Held that: - similar question in respect of A.Y. 2001-02 arisen from same judgment was considered by this Court in Income Tax Appeal No. 142 of 2007 and has been answered in favor of Revenue and against the Assessee - appeal allowed - decided in favor of appellant.
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