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Calcutta HC Denies Section 12AB Exemption as Microfinance Activities Had Commercial Elements
Case Law Details
- Case Name
- Pranab Micro Services Federation Vs Principal Chief Commissioner of Income Tax And Ors (Calcutta High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2024-25
- Courts
- All High Courts, Calcutta High Court
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Pranab Micro Services Federation Vs Principal Chief Commissioner of Income Tax And Ors (Calcutta High Court)
In , the Calcutta High Court dismissed a writ petition filed by an institution registered under Section 12AA of the Income Tax Act, 1961, challenging the rejection of its application for exemption and final approval under the Act.
The petitioner had earlier obtained provisional approval under Clause (iv) of the First Proviso to Section 80G(5) through Form 10AC on 28 May 2021 for the period up to Assessment Year 2024–25. Thereafter, the petitioner applied for final app...
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