Acceptance and Payment of Loan in Cash: HC upheld Section 148A(d) order

S.T John The Baptist Church Vs ITO (Kerala High Court) The Kerala High Court, in the case of St. John The Baptist Church Vs ITO, upheld the order under Section 148A(d) of the Income Tax Act, 1961. The court found the acceptance and repayment of cash loans by the petitioner, a religious institution, in violation of Section 12AA. This article provides a detailed analysis of the court’s decision and the implications for the petitioner. Background of the Case: The petitioner, a registered religious institution, faced scrutiny for financial transactions during the assessment year 2016-17. The...