Assessee Granted Tax Exemption for 2012-13 and 2013-14 u/s 11; No Violations of Sections 13 or 164 Proviso.

Assessee Granted Tax Exemption for 2012-13 and 2013-14 u/s 11; No Violations of Sections 13 or 164 Proviso. https://www.taxtmi.com/highlights?id=58858 Denial of tax exemption computation u/s 11 - taxability of income at maximum marginal rate, as per proviso to section 164(2) - interest free loans to interested persons - We are of the considered view that the assessee is entitled for exemption u/s11 of the Act in respect of total income for the assessment years 2012-13 and 2013-14 because there is no violations as referred to u/s.13 (1)(c) r.w.s 13(2) of the Act - AT en-us Tue, 20 Jul 2021 17:49:22 +0530 Tue, 20 Jul 2021 17:49:22 +0530 TaxTMI RSS Generator Assessee Granted Tax Exemption for 2012-13 and 2013-14 u/s 11; No Violations of Sections 13 or 164 Proviso. https://www.taxtmi.com/highlights?id=58858 Denial of tax exemption computation u/s 11 - taxability of income at maximum marginal rate, as per proviso to section 164(2) - interest free loans to interested persons - We are of the considered view that the assessee is entitled for exemption u/s11 of the Act in respect of total income for the assessment years 2012-13 and 2013-14 because there is no violations as referred to u/s.13 (1)(c) r.w.s 13(2) of the Act - AT Highlights Income Tax Tue, 20 Jul 2021 17:49:22 +0530 https://www.taxtmi.com/highlights?id=58858