Exemption u/s 10(23C)(iiiad) - Threshold limit of Rs. 1 Crore -...

Exemption u/s 10(23C)(iiiad) - Threshold limit of Rs. 1 Crore - The Appellate Tribunal found that the appellant's gross receipts, when considering certain fee receipts from the previous financial year separately, did not exceed the threshold limit of Rs. 1 crore. Citing a precedent and interpreting the relevant provisions, the Tribunal held that each educational institution operated by the appellant should be treated as a separate entity for the purpose of determining eligibility for exemption. Therefore, the Tribunal concluded that the appellant was entitled to exemption under section 10(23C)(iiiad) of the Act.