Tribunal held that micro financing activity is in nature of trade, commerce or business hence is not entitle exemption as charitable purpose. (AY. 2007 -2008 , 2009 – 2010)
Shalom Charitable Ministries of India v. ACIT (2018) 171 ITD 338 /( 2019) 177 DTR 22(Cochin) (Trib.)
S. 11 : Property held for charitable purposes – Micro financing activity is in nature of trade, commerce or business hence is not entitle to exemption as charitable purpose. [ S.2(15) ]