Entitled to registration u/s 12AA and approval under Section 80G ...

High Court Upholds ITAT Decision: Entity Entitled to Section 12AA & 80G Benefits Despite Interest Rate Allegations.

September 2, 2021

Case Laws Income Tax HC

Entitled to registration u/s 12AA and approval under Section 80G - Allegation of charging higher rate of interest from the self help groups in the name of charitable activity - Revenue submits that the CIT recorded a finding that the interest charged would be 35% - we find that there is nothing on record to show that the assessee has charged 35% interest. The interest charged is at 15% per annum and 20% is charged as service charges and obviously, the service charges cannot be on recurring basis - Order of ITAT granting relief to assessee sustained - HC

View Source

← Previous Next →

Entitled to registration u/s 12AA and approval under Section 80G ...

High Court Upholds ITAT Decision: Entity Entitled to Section 12AA & 80G Benefits Despite Interest Rate Allegations.

September 2, 2021

Case Laws Income Tax HC

You may also like:

Interest on refund - Rate of interest - The rate of interest is statutorily prescribed under section 27 (A) read with Notification issued there under according to which...

Interest on delayed refund at notified rate of interest (6%) to the appellant - enhanced rate of interest - The Commissioner (Appeals) has relied on the decision of...

Profiteering - restaurant service - reduction in rate of GST - every recipient/ customer is entitled to the benefit of the tax rate reduction by way of reduced prices...

TP Adjustment - rate of interest on loan availed from AE - when the prime lending rate itself had increased over the years and stood at 14.55% for the relevant period,...

TP Adjustment - Interest on loans and advances given to the AEs - Interest rates vary and are thus dependent on the foreign currency in which the repayment is to be made...

Appropriate rate for benchmarking - receivables from AEs - it would be most appropriate if the LIBOR rate is applied as most appropriate rate of interest for imputing...

Interest expenditure - assessee had availed loan at the interest rate of 12% p.a., whereas, it has advanced loan to a sister concern by charging 9% interest p.a - The...

Benefit of section 80G - The fulfilment of conditions under Section 10(23C) of the Act is only one of the conditions prescribed under Section 80G of the Act but besides...

Rate of interest - for the period from 1.4.2003, the new rate of interest shall apply and not the old rate of interest - Otherwise, the entire rule becomes infructuous/otiose - AT

Addition u/s 40A(2) - assessee has paid interest to certain related parties and treated interest rate @ 15% reasonable and disallowed excess rate paid to related parties...

The proposed amendment rationalizes the timelines for funds or institutions to file applications seeking approval u/s 80G, which provides for deduction of donations to...

Rate of Interest on delayed refund - whether the appellant is entitled for interest on the delayed payment of refund either at the rate of 6% or at the rate of 12% of...

SEBI amended Credit Rating Agencies Regulations in 2025, introducing key modifications for ESG rating providers. The amendment establishes a subscriber-pays business...

Deduction claimed u/s 80G for donations qualifying as CSR expenditure was expressly disallowed u/s 37(1). The court held that even though there is no explanation for...

Benefit of concessional rate of tax / GST - The benefit of reduced rate would be available to them only in the cases of supply effected after 25.01.2018 i.e. the date on...

Quick Updates: