https://www.taxtmi.com/caselaws?id=259250 The Court held that the registered society, operating an educational institution with no other income sources, was entitled to seek exemption under Section 10 (23C) (vi) of the Income Tax Act. Despite the Revenue's argument that the exemption application should have been moved by the educational institution, the Court rejected this, emphasizing the validity of the society's application. The Court stressed the requirement for institutions to exist solely for educational purposes and not for profit, citing relevant precedents. As the Memorandum of Society's Objects did not indicate profit-making intentions, the rejection of the exemption application was deemed unjustified. The Court allowed the petition, quashed the order, and remitted the matter for a fresh decision. en-us Mon, 27 Apr 2015 00:00:00 +0530 Mon, 04 May 2015 11:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259250 The Court held that the registered society, operating an educational institution with no other income sources, was entitled to seek exemption under Section 10 (23C) (vi) of the Income Tax Act. Despite the Revenue's argument that the exemption application should have been moved by the educational institution, the Court rejected this, emphasizing the validity of the society's application. The Court stressed the requirement for institutions to exist solely for educational purposes and not for profit, citing relevant precedents. As the Memorandum of Society's Objects did not indicate profit-making intentions, the rejection of the exemption application was deemed unjustified. The Court allowed the petition, quashed the order, and remitted the matter for a fresh decision. Case-Laws Income Tax Mon, 27 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259250