https://www.taxtmi.com/caselaws?id=379970 The High Court dismissed the appeal challenging the Tribunal's order that upheld the addition of an unexplained unsecured loan under Section 68 of the Income Tax Act. The denial of exemption under Section 10(23C)(iiiad) was affirmed due to the charitable society exceeding the gross annual receipts limit without proper approval. The Court found no merit in the appeal, agreeing with the lower authorities' decisions based on the lack of evidence regarding the loan source and the society's failure to meet statutory conditions. en-us Tue, 02 Apr 2019 00:00:00 +0530 Fri, 10 May 2019 08:00:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379970 The High Court dismissed the appeal challenging the Tribunal's order that upheld the addition of an unexplained unsecured loan under Section 68 of the Income Tax Act. The denial of exemption under Section 10(23C)(iiiad) was affirmed due to the charitable society exceeding the gross annual receipts limit without proper approval. The Court found no merit in the appeal, agreeing with the lower authorities' decisions based on the lack of evidence regarding the loan source and the society's failure to meet statutory conditions. Case-Laws Income Tax Tue, 02 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379970