Microfinance Business Denied Tax Exemption u/ss 11 and 12 Due to Profit-Driven Operations, Lacking Charitable Activities.

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....Entitlement to exemption u/s.11 and 12 - as the assessee is carrying on micro finance business in a commercial manner so as to earn profit and there is no iota of charity carried on by the assessee so as to grant exemption under sec.11 of the Act - AT....