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2020 (8) TMI 502 - AT - Income TaxDenying the benefit of claim of deduction u/s 11 - Stay of demand - activities of micro finance - reasoning of the AO to deny the claim of exemption was that the assessee was engaged in micro finance activities, wherein it was charging exorbitant interest from its beneficiaries and there was no charitable activities involved in micro finance activities - HELD THAT:- Tribunal in assessee’s own case [2018 (6) TMI 1310 - ITAT COCHIN] held that the micro finance conducted by the assessee is not a charitable activity, for identical facts, these appeals filed by the assessee are rejected. Stay Applications filed by the assessee become infructuous and the same are dismissed as such.
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