https://www.taxtmi.com/caselaws?id=262692 The Tribunal found that the micro-finance activities conducted by the assessee were commercial in nature and did not meet the criteria for charitable activities under section 2(15) of the Income Tax Act. Therefore, the assessee was not eligible for exemptions under sections 11 and 12. The Tribunal overturned the CIT(A)'s decision, supporting the assessment by the AO and ruling in favor of the Revenue. en-us Fri, 07 Aug 2015 00:00:00 +0530 Fri, 14 Aug 2015 11:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262692 The Tribunal found that the micro-finance activities conducted by the assessee were commercial in nature and did not meet the criteria for charitable activities under section 2(15) of the Income Tax Act. Therefore, the assessee was not eligible for exemptions under sections 11 and 12. The Tribunal overturned the CIT(A)'s decision, supporting the assessment by the AO and ruling in favor of the Revenue. Case-Laws Income Tax Fri, 07 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262692