https://www.taxtmi.com/caselaws?id=207494 The Tribunal ruled in favor of the assessee, granting exemption under Section 10(23C) of the Income-tax Act. It found that the trust, operating for educational purposes with receipts below the prescribed limit, met the criteria for tax exemption. The Tribunal emphasized that the burden of proof lay with the assessing officer, who failed to substantiate profit-oriented operations by the trust. The denial of exemption by the CIT(A) was deemed contrary to the law and legal precedents, leading to the appeal being allowed and exemption granted to the assessee. en-us Wed, 19 Oct 2011 00:00:00 +0530 Wed, 14 Dec 2011 10:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207494 The Tribunal ruled in favor of the assessee, granting exemption under Section 10(23C) of the Income-tax Act. It found that the trust, operating for educational purposes with receipts below the prescribed limit, met the criteria for tax exemption. The Tribunal emphasized that the burden of proof lay with the assessing officer, who failed to substantiate profit-oriented operations by the trust. The denial of exemption by the CIT(A) was deemed contrary to the law and legal precedents, leading to the appeal being allowed and exemption granted to the assessee. Case-Laws Income Tax Wed, 19 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207494