Tax Exemption Denied: Trust's School Fees Revenue Deemed Profit, Violating Section 11 and Section 10(23C)(vi) Criteria.

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....Exemption u/s 11 denied - grant of approval under Section 10 (23C) (vi) denied - Trust Deed seems to indicate that the source of funds of the petitioner’s trust is only from the school fees to be collected during these financial years. Therefore, it cannot be construed that the petitioner’s Trust’s Schools were not for the purpose of profit. - Benefit of exemption rightly denied - HC....