https://www.taxtmi.com/caselaws?id=398304 The court ruled in favor of the petitioner, a government-owned educational entity, in a case involving exemption under Section 10(23C)(iiiab) of the Income Tax Act. The court found the petitioner met all essential conditions for exemption and quashed the notice and reassessment order, emphasizing the petitioner's activities were solely for educational purposes and financed by the government. The court highlighted that the reassessment was unjustified and based on flawed reasoning, ultimately concluding that the petitioner qualified for the exemption under the Income Tax Act. en-us Fri, 04 Sep 2020 00:00:00 +0530 Mon, 09 Nov 2020 16:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398304 The court ruled in favor of the petitioner, a government-owned educational entity, in a case involving exemption under Section 10(23C)(iiiab) of the Income Tax Act. The court found the petitioner met all essential conditions for exemption and quashed the notice and reassessment order, emphasizing the petitioner's activities were solely for educational purposes and financed by the government. The court highlighted that the reassessment was unjustified and based on flawed reasoning, ultimately concluding that the petitioner qualified for the exemption under the Income Tax Act. Case-Laws Income Tax Fri, 04 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398304