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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Educational Institutions Exempt from Tax Must Meet Section 10(22) Criteria, Not Section 11(5) Investment Rules.</h1> Under section 10(22) of the Income-tax Act, income of universities or educational institutions existing solely for educational purposes and not for profit is tax-exempt. The Board received representations from institutions fulfilling section 10(22) conditions but denied exemption due to non-compliance with section 11(5) investment provisions. It is clarified that section 10(22) does not require adherence to section 11(5) investment modes, and such institutions are not obligated to invest their funds accordingly. This clarification does not apply to institutions seeking exemption under section 11 of the Act.
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