TMI BlogExemption u/s 10(23C) (vi) - rejection of the application u/s 12AA - allegation of paying interest on...Exemption u/s 10(23C) (vi) - rejection of the application u/s 12AA - allegation of paying interest on unsecured loan to specified persons at higher rate - Whether paying the interest at the rate of 9%/12% to the above then person was a benefit to the specified person, was required to be examined by the AO during the assessment proceedings and for that purposes it was incumbent upon the AO to bring on record the contemporaneous comparative instances of the similar society indicating that the inte..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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