https://www.taxtmi.com/highlights?id=2753 Exemption u/s 12A & 80G - A.O. has not been able to record any finding that the persons in control of the management of the three societies had, at any point of time, not less than 20% shares in the profits of such concern. This being the position, invocation of Section 13(1) (c) (ii) has to fail and is accordingly rejected. .... - HC en-us Wed, 25 Jan 2012 21:08:12 +0530 Wed, 25 Jan 2012 21:08:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=2753 Exemption u/s 12A & 80G - A.O. has not been able to record any finding that the persons in control of the management of the three societies had, at any point of time, not less than 20% shares in the profits of such concern. This being the position, invocation of Section 13(1) (c) (ii) has to fail and is accordingly rejected. .... - HC Highlights Income Tax Wed, 25 Jan 2012 21:08:12 +0530 https://www.taxtmi.com/highlights?id=2753