https://www.taxtmi.com/caselaws?id=371153 The High Court upheld the Tribunal's decision regarding the exemption under Section 10(23C)(iiiab) of the Income Tax Act, 1961, for educational institutions operated by a trust. The Court ruled that the exemption applied to the trust as a whole and not on an institution-specific basis, emphasizing that the legislative intent was to grant exemption to the society or trust collectively. The judgment dismissed the Revenue's argument for institution-specific exemption, stating that as long as the trust met the statutory requirements, the exemption would apply, regardless of individual institutions not meeting the criteria. en-us Mon, 26 Nov 2018 00:00:00 +0530 Thu, 29 Nov 2018 11:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371153 The High Court upheld the Tribunal's decision regarding the exemption under Section 10(23C)(iiiab) of the Income Tax Act, 1961, for educational institutions operated by a trust. The Court ruled that the exemption applied to the trust as a whole and not on an institution-specific basis, emphasizing that the legislative intent was to grant exemption to the society or trust collectively. The judgment dismissed the Revenue's argument for institution-specific exemption, stating that as long as the trust met the statutory requirements, the exemption would apply, regardless of individual institutions not meeting the criteria. Case-Laws Income Tax Mon, 26 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371153