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2018 (2) TMI 1347 - HC - Income TaxExemption u/s 10(23C)(iv) denied - proof of charitable activities - Petitioner society was running 08 school buses to ferry the students - case of the petitioner society was rejected primarily on the ground that the assessee could not produce any evidence that buses were being used for the school only - Held that:- It is evident from a combine reading of Memorandum of Association that the Society has been primarily established to impart education. The school is required to have necessary infrastructure to impart education in an effective manner. The Chief Commissioner of Income Tax has come to a wrong conclusion that the Society was making systematic profit. The schools are required to invest in the infrastructure including expansion of building etc. Every school is required to provide latest facilities to the students and for this purpose, the construction of new building is essential. The business earned by the society is pumped again for raising the infrastructure. The respondent is directed to grant exemption to the petitioner-Society for the relevant assessment year - Decided in favour of assessee
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