https://www.taxtmi.com/caselaws?id=119957 The Supreme Court dismissed the revenue's appeals and upheld the decision of the Ld. CIT(A) regarding an institution's eligibility for exemption under section 10(23C)(iiiab) of the Income-tax Act. The case focused on interpreting the term "substantially financed by the Government," with the court emphasizing that considerable financial support from the Government, covering a significant portion of the institution's finances, qualifies as substantial financing. The judgment underscores the significance of Government funding in determining tax exemption eligibility and clarifies the interpretation of "substantial" in legal contexts. en-us Fri, 08 Sep 2006 00:00:00 +0530 Sat, 14 Jul 2012 13:08:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119957 The Supreme Court dismissed the revenue's appeals and upheld the decision of the Ld. CIT(A) regarding an institution's eligibility for exemption under section 10(23C)(iiiab) of the Income-tax Act. The case focused on interpreting the term "substantially financed by the Government," with the court emphasizing that considerable financial support from the Government, covering a significant portion of the institution's finances, qualifies as substantial financing. The judgment underscores the significance of Government funding in determining tax exemption eligibility and clarifies the interpretation of "substantial" in legal contexts. Case-Laws Income Tax Fri, 08 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119957