https://www.taxtmi.com/highlights?id=92559 The ITAT allowed the appeal and set aside the order denying exemption under section 11, holding that the appellant-an entity registered as a not-for-profit under the Companies Act and under section 12A-carried out charitable activities including education, relief of poor, medical relief, environment and micro-finance. The Tribunal found the micro-finance receipts, though exceeding 20% of total receipts and comprising commission, processing fees and interest, to form part of the charitable objects and to have been historically treated as charitable receipts; it concluded that the Assessing Officer and CIT(A) erred, resulting in a miscarriage of justice, and directed restoration of exemption entitlement accordingly. en-us Tue, 16 Sep 2025 09:02:41 +0530 Tue, 16 Sep 2025 09:02:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=92559 The ITAT allowed the appeal and set aside the order denying exemption under section 11, holding that the appellant-an entity registered as a not-for-profit under the Companies Act and under section 12A-carried out charitable activities including education, relief of poor, medical relief, environment and micro-finance. The Tribunal found the micro-finance receipts, though exceeding 20% of total receipts and comprising commission, processing fees and interest, to form part of the charitable objects and to have been historically treated as charitable receipts; it concluded that the Assessing Officer and CIT(A) erred, resulting in a miscarriage of justice, and directed restoration of exemption entitlement accordingly. Highlights Income Tax Tue, 16 Sep 2025 09:02:41 +0530 https://www.taxtmi.com/highlights?id=92559