Repayment of Loan taken for Construction of Building by Assessee Society considered as Income If for Charitable Purposes: ITAT [Read Order]

Repayment of loan - construction of building - assessee - income - charitable purposes - ITAT - Taxscan

The Income Tax Appellate Tribunal (ITAT), Chandigarh bench consisting of N.K. Saini, Vice President, and Sudhanshu Srivastava, Judicial Member held that repayment of loan taken for construction of the building by assessee Trust considered as income if for charitable purposes. The assessee society, M/s. Ram Asra Goyal Education & Research Society was registered under the…

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