https://www.taxtmi.com/caselaws?id=35470 HC held that an educational institution's earning of surplus does not alone defeat its non-profit character; the predominant-object test governs exemption under s.10(23C)(vi) read with rule 2CA. Prior approvals and completed assessments need not be reopened absent violation or triggers under the 13th proviso, which permits prescribed authority to withdraw approval following procedure. Capital expenditure wholly and exclusively for education is exempt. Societies retain eligibility for s.10(23C)(vi). Accumulations exceeding 15% after 01.04.2002 are allowed only up to five years if applied or accumulated solely for education. A contrary Uttarakhand decision was disapproved. en-us Fri, 29 Jan 2010 00:00:00 +0530 Mon, 01 Sep 2025 15:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35470 HC held that an educational institution's earning of surplus does not alone defeat its non-profit character; the predominant-object test governs exemption under s.10(23C)(vi) read with rule 2CA. Prior approvals and completed assessments need not be reopened absent violation or triggers under the 13th proviso, which permits prescribed authority to withdraw approval following procedure. Capital expenditure wholly and exclusively for education is exempt. Societies retain eligibility for s.10(23C)(vi). Accumulations exceeding 15% after 01.04.2002 are allowed only up to five years if applied or accumulated solely for education. A contrary Uttarakhand decision was disapproved. Case-Laws Income Tax Fri, 29 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35470