https://www.taxtmi.com/caselaws?id=788657 Exemption under section 10(23C)(iiiab) depends on the institution being substantially financed by the Government. Rule 2BBB applies a quantitative test requiring Government grant to exceed 50% of total receipts in the relevant previous year. On the stated facts, the grant did not cross that threshold, so the statutory condition was not met. Government ownership or administrative control could not override the express receipt-based benchmark, because the rule makes that threshold mandatory for the exemption. en-us Tue, 24 Mar 2026 00:00:00 +0530 Thu, 26 Mar 2026 09:05:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788657 Exemption under section 10(23C)(iiiab) depends on the institution being substantially financed by the Government. Rule 2BBB applies a quantitative test requiring Government grant to exceed 50% of total receipts in the relevant previous year. On the stated facts, the grant did not cross that threshold, so the statutory condition was not met. Government ownership or administrative control could not override the express receipt-based benchmark, because the rule makes that threshold mandatory for the exemption. Case-Laws Income Tax Tue, 24 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788657