School Wins Tax Exemption: Court Says Educational Purpose Prevails Over Profit Motive u/s 10(23C)(vi) of Income Tax Act.
X X X X Extracts X X X X
X X X X Extracts X X X X
....Grant of exemption u/s 10(23C) (vi) and (via) - running of a school - Merely because some profit is generated does not ipso facto imply that the educational institution is existing for profit motive - HC....
TaxTMI