https://www.taxtmi.com/caselaws?id=9372 The court held that interest income earned on surplus funds by an educational institution qualifies for exemption under section 10(22) of the Income-tax Act, 1961, as long as the institution exists solely for educational purposes and not for profit. The court ruled in favor of the assessee, stating that the income derived from the investment of surplus funds should be utilized for educational purposes to be eligible for the exemption. en-us Wed, 29 Jun 2005 00:00:00 +0530 Mon, 22 Jun 2009 15:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9372 The court held that interest income earned on surplus funds by an educational institution qualifies for exemption under section 10(22) of the Income-tax Act, 1961, as long as the institution exists solely for educational purposes and not for profit. The court ruled in favor of the assessee, stating that the income derived from the investment of surplus funds should be utilized for educational purposes to be eligible for the exemption. Case-Laws Income Tax Wed, 29 Jun 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9372