https://www.taxtmi.com/caselaws?id=337094 The High Court upheld the tax exemption for an educational institution, emphasizing that the institution's surplus did not compromise its educational status. The Court clarified that incidental surplus does not transform an educational institution into a profit-making entity, emphasizing the institution's primary educational purpose over profit motives. The judgment favored the institution, highlighting the importance of distinguishing between generating a surplus and operating for profit, ultimately ruling in favor of the institution's eligibility for tax benefits under Section 10 of the Income Tax Act, 1961. en-us Tue, 22 Nov 2016 00:00:00 +0530 Mon, 02 Jan 2017 12:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337094 The High Court upheld the tax exemption for an educational institution, emphasizing that the institution's surplus did not compromise its educational status. The Court clarified that incidental surplus does not transform an educational institution into a profit-making entity, emphasizing the institution's primary educational purpose over profit motives. The judgment favored the institution, highlighting the importance of distinguishing between generating a surplus and operating for profit, ultimately ruling in favor of the institution's eligibility for tax benefits under Section 10 of the Income Tax Act, 1961. Case-Laws Income Tax Tue, 22 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337094