https://www.taxtmi.com/highlights?id=59487 Entitled to registration u/s 12AA and approval under Section 80G - Allegation of charging higher rate of interest from the self help groups in the name of charitable activity - Revenue submits that the CIT recorded a finding that the interest charged would be 35% - we find that there is nothing on record to show that the assessee has charged 35% interest. The interest charged is at 15% per annum and 20% is charged as service charges and obviously, the service charges cannot be on recurring basis - Order of ITAT granting relief to assessee sustained - HC en-us Thu, 02 Sep 2021 09:00:26 +0530 Thu, 02 Sep 2021 09:00:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=59487 Entitled to registration u/s 12AA and approval under Section 80G - Allegation of charging higher rate of interest from the self help groups in the name of charitable activity - Revenue submits that the CIT recorded a finding that the interest charged would be 35% - we find that there is nothing on record to show that the assessee has charged 35% interest. The interest charged is at 15% per annum and 20% is charged as service charges and obviously, the service charges cannot be on recurring basis - Order of ITAT granting relief to assessee sustained - HC Highlights Income Tax Thu, 02 Sep 2021 09:00:26 +0530 https://www.taxtmi.com/highlights?id=59487