Interest-Free Loans to Unregistered Societies Don't Qualify as Deposits or Investments u/s 11(5) Income Tax Act.

Benefit u/s 11 an 12 - Loan given to society not registered u/s 12AA - Where both the societies have similar objects and are registered under Section 12AA and have approvals under Section 80G, interest free loan cannot be treated as deposit or investment so as to attract Section 11 (5) of the Act - HC .....

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