The Income Tax Appellate Tribunal (ITAT), Cochin bench has held that the Micro Finance Activity cannot be treated as charitable in nature for the purpose of allowing tax exemptions to a Trust under the Income Tax Act, 1961. The assessee-Trust was registered under section 12AA of the Income Tax Act, 1961 and was enjoying tax […]
The post Micro Finance Activity is not ‘Charitable’: ITAT denies Tax Exemption to Trust [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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