Court Rules in Favor of Educational Institution for Tax Exemption u/s 10(23C)(vi) of Income Tax Act.

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....Exemption u/s 10 (23C) (vi) - The main object of the petitioner indicates that it is in the field of education. There are also indication that the petitioner had not otherwise indulged in any other activity to make profit and it was engaged only in the field of education in all the years of its existence since 1992. - Denial of approval to the petitioner u/s 10 (23C)(iv) is not justified. The respondents ought to have granted approval but at the same time and laid down on strict conditions for the petitioner to comply with the said requirements. - HC....