Exemption Denied: Society's Interest-Free Loan Not Classified as Investment, Doesn't Violate Section 13(1)(d) with Section 11(5.

Claim of exemption under section 11 denied - interest free loan given by the assessee society to another society with identical object cannot be treated as “investment” or “deposit” in which event there is no violation of section 13(1)(d) r.w.s. 11(5) - AT .....

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