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Income Tax Exemption Denied: Society's School Investments Misinterpreted as Profit-Making by Chief Commissioner u/s 10(23C)(iv.

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....Exemption u/s 10(23C)(iv) denied - proof of charitable activities - The CCIT has come to a wrong conclusion that the Society was making systematic profit. The schools are required to invest in the infrastructure including expansion of building etc - HC....

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