Charitable Trust Retains Exemption u/s 11: 14% Loan Interest Rate Deemed Normal by Tax Authorities.

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....Exemption u/s 11 - assessee is a charitable Trust and it was granted registration u/s 12A - Denial of exemption as assessee is charging exorbitant interest rates on the loan given to the women - the rate of interest of 14% is the normal rate charged by the banks for its lending and hence the said rate cannot be considered to be at exorbitant rate, as observed by the tax authorities. - AT....