Income Tax Exemption Denied: Profit Motive Overrides Charitable Purpose Claim u/ss 10(23C)(vi) & 11.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Exemption u/s 10(23C)(vi) r.w.s. 11 - When the assessee’s activities or the purposes are considered as existing for purposes of profit, its claim u/s 11 that it is existing for “charitable purposes” within the scope of section 2(15) of the Act also fails both the ays.....