High Court of Bombay Quashes Order Denying Exemption to Educational Institution Under Section 10(23C)(vi) of Income Tax Act, 1961 — Finding of Non-Existence Solely for Educational Purposes Held Erroneous. Institution Receiving Government Grants Falls Under Section 10(23C)(iiiab) Not Requiring Approval, and Merely Having Receipts Like Donations and Interest Does Not Negate Solely Educational Purpose If No Profit Motive Exists.
31 Jan 2013The petitioner, a public trust and society registered under the Bombay Public Trusts Act, 1950 and Societies Registration Act, 1960, operated a commer...
