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2017 (3) TMI 190 - AT - Income TaxDenying the exemption u/s 10(23C) (iiiad) - denal of claim as activity undertaken by the appellant was in the nature of commercial activity and not in furtherance of education - Held that:- The activities of the trust are very much falls within the ambit of education activities. If surplus made by the assessee trust was utilized and consumed for the purposes of furtherance of its object of education , it would also be considered that the trust is existing for the purpose of educational purposes only and not otherwise. We are not in agreement with conclusion drawn by the ld CIT(A) which is not correct. Accordingly, we set aside the order of the ld. CIT(A) and direct the AO to allow the benefit u/s 10(23C)(iiiad) of the Act as the gross annual received is less than ₹ 1 crores as the activities of the trust are for the educational purposes. - Decided in favour of assessee
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