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

Case Laws Income Tax

September 2, 2021

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 ...

Case Laws Income Tax

September 2, 2021

You may also like:

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...

Assessee is entitled for depreciation on dumpers and pay loaders at the higher rate - AT

Exemption u/s 11 - assessee is a charitable Trust and it was granted registration u/s 12A - Denial of exemption as assessee is charging exorbitant interest rates on the...

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...

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...

Exemption u/s 11 - Registration u/s 12AA denied - manipulative treatment of funds - at the stage of registration, the CIT exemption cannot deny the registration merely...

Registration u/s 12AA - Legislature by insertion Section 12AA(4) as a ground for cancellation of registration for violation of section 13 w.e.f 01.10.2014 - provisions...

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...

Solely because the assessee for whatever reasons/consideration charged the interest at different rates by that itself cannot be a ground to come to the conclusion that...

Exemption u/s 11 - Registration u/s 12AA - to grant registration the objects of the assessee society is to be examined - to run the medical shop inside the hospital is...

Cancellation of registration u/s. 12AA(3) - registration can be cancelled only in those cases where registration has been granted u/s. 12AA(1)(b) of the Act but it no...

TP Adjustment - Benchmarking of interest receivable on loan - when the assessee has charged higher interest on loan to subsidiary compared to the prevailing interest...

The applicant is required to pay GST on the charges paid to Indian Railways for various services received, as the applicant is the recipient of these services from...

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,...

Exemption u/s 11 - withdrawing the registration u/s 12AA - the Registration u/s 12AA of the Act, once granted, remains valid until it is cancelled by the Commissioner,...

Quick Updates: