https://www.taxtmi.com/caselaws?id=342989 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) to add Rs. 53,91,212/- to the income of the Trust for allegedly running an educational institution for profit motives. The Trust was denied exemption under Section 10(23C)(iiiad) due to significant surplus profits and asset creation outside educational purposes. The Tribunal found that the Trust did not qualify for the exemption as it was generating profits and creating assets, affirming the addition to income and denial of exemption. The appeal was dismissed, and there was no procedural unfairness in the assessment process. en-us Fri, 12 May 2017 00:00:00 +0530 Tue, 16 May 2017 20:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342989 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) to add Rs. 53,91,212/- to the income of the Trust for allegedly running an educational institution for profit motives. The Trust was denied exemption under Section 10(23C)(iiiad) due to significant surplus profits and asset creation outside educational purposes. The Tribunal found that the Trust did not qualify for the exemption as it was generating profits and creating assets, affirming the addition to income and denial of exemption. The appeal was dismissed, and there was no procedural unfairness in the assessment process. Case-Laws Income Tax Fri, 12 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342989