https://www.taxtmi.com/caselaws?id=433103 The Tribunal directed the CIT(E) to grant exemption under section 10(23C)(vi) to the educational trust, overturning the initial denial. The Tribunal found the trust's primary objective to be education, with ancillary activities supporting this goal. The trust's financial accounts demonstrated reinvestment of nominal profits into charitable activities, indicating no profit motive. Compliance with educational regulations and approvals from educational boards further supported the trust's educational focus. Consequently, the Tribunal allowed the appeal, recognizing the trust's educational purpose and compliance with relevant provisions. en-us Wed, 11 Jan 2023 00:00:00 +0530 Sat, 21 Jan 2023 08:50:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433103 The Tribunal directed the CIT(E) to grant exemption under section 10(23C)(vi) to the educational trust, overturning the initial denial. The Tribunal found the trust's primary objective to be education, with ancillary activities supporting this goal. The trust's financial accounts demonstrated reinvestment of nominal profits into charitable activities, indicating no profit motive. Compliance with educational regulations and approvals from educational boards further supported the trust's educational focus. Consequently, the Tribunal allowed the appeal, recognizing the trust's educational purpose and compliance with relevant provisions. Case-Laws Income Tax Wed, 11 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433103