Bombay High Court Allows Exemption Under Section 10(22) for Interest Income on Surplus Funds of Educational Trust. Interest earned on surplus funds of a school run by a trust is exempt under Section 10(22) of the Income-tax Act, 1961, as it is incidental to educational activities.
29 Jun 2005The case involves a reference under Section 256(1) of the Income-tax Act, 1961, by the Income Tax Appellate Tribunal at the instance of the assessee, ...




