Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
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 loan given to the women - the rate of interest of 14% is the normal rate charged by the banks for its lending and hence the said rate cannot be considered to be at exorbitant rate, as observed by the tax authorities. - 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 loan given to the women - the rate of interest of 14% is the normal rate charged by the banks for its lending and hence the said rate cannot be considered to be at exorbitant rate, as observed by the tax authorities. - AT
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