{"id":13047,"date":"2020-10-18T09:45:09","date_gmt":"2020-10-18T09:45:09","guid":{"rendered":"https:\/\/itatonline.org\/digest\/shalom-charitable-ministries-of-india-v-acit-2020-81-itr-20-cochin-trib\/"},"modified":"2020-10-18T09:45:09","modified_gmt":"2020-10-18T09:45:09","slug":"shalom-charitable-ministries-of-india-v-acit-2020-81-itr-20-cochin-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/shalom-charitable-ministries-of-india-v-acit-2020-81-itr-20-cochin-trib\/","title":{"rendered":"Shalom Charitable Ministries Of India v. ACIT (2020) 81 ITR 20 ( Cochin ) (Trib)"},"content":{"rendered":"<p>The assessee-trust claimed exemption under S. 11\u00a0of the\u00a0 Act .\u00a0 The AO denied the \u00a0on the ground that the assessee was engaged in micro finance activities, wherein it was charging exorbitant interest from its beneficiaries and no charitable activities were involved in micro finance activities. On appeal CIT (A) affirmed the order of the AO . On appeal the Tribunal held that\u00a0\u00a0 \u00a0the activities of micro finance were not charitable in nature and the assessee was not entitled to the claim of benefit under\u00a0 S.\u00a011\u00a0 of the Act .( AY.2010-11, 2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 11 : Property held for charitable purposes &#8211; Micro finance activity \u2014 Not charitable in  nature \u2014 Not entitled to exemption [ S. 2 (15)  ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-13047","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3or","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13047","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=13047"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13047\/revisions"}],"predecessor-version":[{"id":13048,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13047\/revisions\/13048"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=13047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=13047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=13047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}