https://www.taxtmi.com/caselaws?id=781698 ITAT Delhi allowed the appeal and set aside the denial of exemption under s.10(23C)(vi). The tribunal held that generation of substantial surplus by an educational society does not, per se, indicate profit motive or bar registration; surplus may be legitimately sourced from operations and used for assets and school development. Findings that surplus funded land purchases recorded in the society's balance sheet supported application of funds to the society's objects. ITAT directed CIT(A) to examine whether the funds were applied exclusively to the society's objects rather than sustain denial. en-us Wed, 12 Nov 2025 00:00:00 +0530 Wed, 19 Nov 2025 08:52:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781698 ITAT Delhi allowed the appeal and set aside the denial of exemption under s.10(23C)(vi). The tribunal held that generation of substantial surplus by an educational society does not, per se, indicate profit motive or bar registration; surplus may be legitimately sourced from operations and used for assets and school development. Findings that surplus funded land purchases recorded in the society's balance sheet supported application of funds to the society's objects. ITAT directed CIT(A) to examine whether the funds were applied exclusively to the society's objects rather than sustain denial. Case-Laws Income Tax Wed, 12 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781698