https://www.taxtmi.com/caselaws?id=442812 The Tribunal upheld the denial of exemption under Section 10(23C)(iiiab) of the Income-tax Act, 1961 for the assessee society, as it did not meet the criteria of being "wholly or substantially financed by the government" and existing "solely for the purpose of education and without any profit motive." Additionally, the Tribunal rejected the additional ground for exemption under Sections 11 and 12 based on Section 12A(2) due to the pre-condition not being satisfied. The Tribunal did not address the alternate submission for exemption under Section 10(23C)(vi) as it was not raised in the lower authorities' orders. en-us Thu, 07 Sep 2023 00:00:00 +0530 Mon, 11 Sep 2023 18:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442812 The Tribunal upheld the denial of exemption under Section 10(23C)(iiiab) of the Income-tax Act, 1961 for the assessee society, as it did not meet the criteria of being "wholly or substantially financed by the government" and existing "solely for the purpose of education and without any profit motive." Additionally, the Tribunal rejected the additional ground for exemption under Sections 11 and 12 based on Section 12A(2) due to the pre-condition not being satisfied. The Tribunal did not address the alternate submission for exemption under Section 10(23C)(vi) as it was not raised in the lower authorities' orders. Case-Laws Income Tax Thu, 07 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442812