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Court Upholds Charitable Exemption u/s 10(23C)(iv) After Misinterpretation of Donation Types by DGIT(E.
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....Withdrawal of exemption granted u/s 10(23C)(iv) - DGIT(E) erroneously drew a distinction between corpus and non-corpus donations made by it to HNF - Hamdard’s is not carrying on a business of the nature envisaged in condition (c) of the order of exemption/seventh proviso to Section 10(23C) - Hamdard’s dominant purpose is charitable in nature, and it is not guided by the motive of profit-making - Exemption cannot be denied - HC....