https://www.taxtmi.com/caselaws?id=235067 The High Court upheld the Tribunal's decision regarding interest-free loans exempted under Section 12AA of the Income Tax Act, finding no violation of Section 13. The Court concurred with the Tribunal's factual findings that the loans were given to charitable societies engaged in education, not as investments or deposits. The Court dismissed the appeals, stating they did not raise substantial questions of law for consideration, referencing a similar Delhi High Court case supporting their decision. en-us Wed, 19 Jun 2013 00:00:00 +0530 Wed, 10 Jul 2013 08:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235067 The High Court upheld the Tribunal's decision regarding interest-free loans exempted under Section 12AA of the Income Tax Act, finding no violation of Section 13. The Court concurred with the Tribunal's factual findings that the loans were given to charitable societies engaged in education, not as investments or deposits. The Court dismissed the appeals, stating they did not raise substantial questions of law for consideration, referencing a similar Delhi High Court case supporting their decision. Case-Laws Income Tax Wed, 19 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235067