2017 (2) TMI 32

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..... Merchant JUDGMENT ( Judgment of this Court was delivered by Anita Sumanth, J. ) This Tax Case (appeal) is filed by the Department against an order passed by the Income Tax Appellate Tribunal dated 7.5.2013. 2. The substantial questions of law that arise for consideration in this appeal are as follows; 1. Whether under the facts and circumstances of the case, the Income Tax Appellate Tribunal .....

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..... ation by an order dated 15.5.2012. An order was passed pursuant thereto by the Commissioner of Income Tax on 21.9.2012, where, after due examination of documents, the Commissioner noted that the Deed of Trust contained an object permitting the grant of interest-free loans to businessmen/women belonging to the Bohra Mohammed community for furtherance of business interests. He was of the view that t .....

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..... 31 (SC) has considered an identical set of facts concluding that the activity of 'Qardan Hasana' constitutes religious activity. The Trust is thus entitled to grant of registration under section 12AA of the Act. We may also note that the specific object in the Trust Deed in the present case objected to by the Commissioner of Income Tax which reads as follows: 4.4 To promote, propogate, .....

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