Educational Trust With Income Under Rs. 5 Crore Wins Tax Exemption Appeal u/s 10(23C)(iiiad) At ITAT.

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....Educational trust's appeal against denial of exemption u/s 10(23C)(iiiad) was allowed by ITAT. The trust, established in 1962, exclusively provides government-recognized educational services with annual income below Rs. 5 crores. ITAT found the institution satisfied all statutory requirements as it existed solely for educational purposes since inception, with no competing activities. The tribunal determined the trust's educational focus was uncontested by revenue authorities and met the criteria for tax exemption. The demand notice was nullified as the trust qualified for relief under 10(23C)(iiiad). ITAT directed revenue authorities to process exemption and withdraw assessment proceedings.....