https://www.taxtmi.com/caselaws?id=792965 Exemption under section 10(23C)(iiiab) depends on whether a university existing solely for educational purposes and not for profit is substantially financed by the Government in the relevant previous year. The applicable test is year-specific under the statute and Rule 2BBB, so Government grants received during that year must be compared with total receipts; cumulative grants from inception are not the correct basis. On the facts, the assessee's Government financing remained below the 50% threshold in the years considered, so it did not qualify as substantially financed by the Government and the exemption was denied. en-us Fri, 15 May 2026 00:00:00 +0530 Sat, 06 Jun 2026 08:42:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792965 Exemption under section 10(23C)(iiiab) depends on whether a university existing solely for educational purposes and not for profit is substantially financed by the Government in the relevant previous year. The applicable test is year-specific under the statute and Rule 2BBB, so Government grants received during that year must be compared with total receipts; cumulative grants from inception are not the correct basis. On the facts, the assessee's Government financing remained below the 50% threshold in the years considered, so it did not qualify as substantially financed by the Government and the exemption was denied. Case-Laws Income Tax Fri, 15 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792965