High Court Dismisses Revenue's Appeal in Educational Society Exemption Case — Surplus from Tuition Fees Does Not Disqualify Exemption Under Section 10(23C)(iiiad) of Income Tax Act, 1961. The court held that the mere generation of surplus from tuition fees does not indicate a profit motive, and the surplus applied for educational purposes does not disentitle the institution to exemption....
The case involved appeals by the Revenue against the order of the Income Tax Appellate Tribunal (ITAT) granting exemption under Section 10(23C)(iiiad) of the Income Tax Act, 1961, to M/s. Children's E...
