https://www.taxtmi.com/caselaws?id=208670 Delhi HC held that a society registered under Section 12A and 80G that pledged FDRs to enable other societies to obtain bank loans did not violate Section 13(1)(c)(ii). The AO failed to establish that persons controlling the three societies held at least 20% profit shares. The court found that specific tied grants received from government and foreign institutions were not voluntary contributions under Section 12, as funds were earmarked for specific purposes and unutilized amounts required refund to funding agencies. The society lacked discretionary control over fund utilization. Revenue's case was rejected. en-us Fri, 13 Jan 2012 00:00:00 +0530 Thu, 05 Jun 2025 10:53:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208670 Delhi HC held that a society registered under Section 12A and 80G that pledged FDRs to enable other societies to obtain bank loans did not violate Section 13(1)(c)(ii). The AO failed to establish that persons controlling the three societies held at least 20% profit shares. The court found that specific tied grants received from government and foreign institutions were not voluntary contributions under Section 12, as funds were earmarked for specific purposes and unutilized amounts required refund to funding agencies. The society lacked discretionary control over fund utilization. Revenue's case was rejected. Case-Laws Income Tax Fri, 13 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208670