https://www.taxtmi.com/caselaws?id=3000 The High Court upheld the Income Tax Appellate Tribunal's decision to deny exemption under Sections 11 and 12 of the Income Tax Act to a Society registered under the Societies Registration Act for the assessment year 1997-98. The denial was based on the failure to adhere to conditions, including charging adequate interest and providing proper documentation when lending money to interested parties. The Court found that the trust had violated provisions related to benefiting interested parties, leading to the dismissal of the appeal challenging the denial of exemption. en-us Mon, 14 May 2007 00:00:00 +0530 Wed, 30 Jul 2008 12:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3000 The High Court upheld the Income Tax Appellate Tribunal's decision to deny exemption under Sections 11 and 12 of the Income Tax Act to a Society registered under the Societies Registration Act for the assessment year 1997-98. The denial was based on the failure to adhere to conditions, including charging adequate interest and providing proper documentation when lending money to interested parties. The Court found that the trust had violated provisions related to benefiting interested parties, leading to the dismissal of the appeal challenging the denial of exemption. Case-Laws Income Tax Mon, 14 May 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3000