https://www.taxtmi.com/caselaws?id=290072 The Tribunal ruled in favor of the assessee, holding that the surplus income should not be assessed under "Income from business & profession" and denied the exemption under section 11. The Tribunal found that the surplus arising from institutional and consultancy charges was incidental to the main educational objective of the assessee, making the proviso to section 2(15) inapplicable. Additionally, the Tribunal concluded that the surplus should not be taxed at the Maximum Marginal Rate, ultimately allowing the appeal and maintaining the exemptions under sections 11 and 12 for the assessee. en-us Wed, 29 May 2019 00:00:00 +0530 Mon, 07 Sep 2020 19:31:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290072 The Tribunal ruled in favor of the assessee, holding that the surplus income should not be assessed under "Income from business & profession" and denied the exemption under section 11. The Tribunal found that the surplus arising from institutional and consultancy charges was incidental to the main educational objective of the assessee, making the proviso to section 2(15) inapplicable. Additionally, the Tribunal concluded that the surplus should not be taxed at the Maximum Marginal Rate, ultimately allowing the appeal and maintaining the exemptions under sections 11 and 12 for the assessee. Case-Laws Income Tax Wed, 29 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290072