https://www.taxtmi.com/caselaws?id=371511 The Tribunal upheld the CIT(A)'s decision to grant exemption under section 10(22) of the Income Tax Act to the educational institution. It concluded that the institution operated solely for educational purposes and not for profit, with income sources like tuition fees and donations not indicative of profit motives. The Tribunal found that the trust's status as a beneficiary trust with foreign beneficiaries did not impact its eligibility for exemption. Additionally, the receipt of part fees in foreign exchange and compliance with CBDT directions regarding surplus funds did not affect the institution's exemption eligibility. The Tribunal dismissed the Revenue's appeal and the assessee's cross-objection. en-us Wed, 28 Nov 2018 00:00:00 +0530 Fri, 11 Jan 2019 12:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371511 The Tribunal upheld the CIT(A)'s decision to grant exemption under section 10(22) of the Income Tax Act to the educational institution. It concluded that the institution operated solely for educational purposes and not for profit, with income sources like tuition fees and donations not indicative of profit motives. The Tribunal found that the trust's status as a beneficiary trust with foreign beneficiaries did not impact its eligibility for exemption. Additionally, the receipt of part fees in foreign exchange and compliance with CBDT directions regarding surplus funds did not affect the institution's exemption eligibility. The Tribunal dismissed the Revenue's appeal and the assessee's cross-objection. Case-Laws Income Tax Wed, 28 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371511