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2013 (11) TMI 620 - HC - Income TaxExemption under Section 10(23C)(vi) - Charitable purpose - educational institutions – profit motive - Held that:- applicant society is not existing solely for educational purposes as its main motive seems to be making profit by charging higher fees from students. Further, the applicant is existing for purposes of profit and therefore the application received on 26.3.2008 for grant of exemption u/s 10 (23C)(vi) is rejected. Plain language in Section 10 (23C) (vi) of the Act read with first and second Proviso and the law laid down by Hon'ble Supreme Court in the judgment in the case of American Hotel [2008 (5) TMI 17 - SUPREME COURT OF INDIA], to call for such document including annual accounts or information from the petitioner to check the genuineness of the activities of the petitioner institution which power was earlier not there with the prescribed authority under Section 10(22) of the Act – Chief Commissioner has been conferred powers to ascertain while judging the genuineness of the activities of the petitioner institution as to whether the petitioner applies its income wholly and exclusively to the objects for which it is constituted/established – Decided against the Assessee.
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