Home Highlights February 2014 Year 2014 This

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1. Denial of exemption u/s 10(23C)(vi) - CIT(E) observed the huge surplus which indicates that the activities are conducted with the motive of profit. - even if for any...

2. Exemption u/s 10(23C)(vi) – mere existence that there is some profit does not disqualify the petitioner if the sole purpose of existence was not profit making but...

3. Exemption u/s 10(23C)(vi) – mere fact that a fee is being charged from students would not establish that the institution exists for profit – the rejection of the...

4. Exemption under Section 10 (23C) (vi) refused - if surplus is generated year after year, it cannot be said to be existing solely for educational purposes - exemption denied - HC

5. Exemption u/s 10 (23C) (vi) - generation of surplus from year to year - the court referred to precedents and a clarificatory circular issued by the Ministry of Finance....

6. Exemption u/s10 (23C)(vi) denied - the petitioner exists solely for educational purposes and not for the purposes of profit - revenue directed to grant approval to the...

7. Condone delay in fling the application for exemption u/s 10(23C)(vi) - We feel that even at this stage petitioner may approach CBDT under section 119(2)(b) seeking a...

8. Exemption to be allowed u/s 10(23C)(vi) or section 11 – assessee claimed exemption u/s 11 – AO was under obligation to allow exemption u/s 10(23C)(vi) and there is...

9. Exemption u/s. 10(23C)(vi) - Assessee Trust having multiple objects cannot be said to be existing “solely for the purpose of education”. It is open to the trust to...

10. Exemption u/s 10(23C)(vi) - Commissioner was of the opinion that the activity of the respondent-assessee cannot be said to be solely for imparting the education and,...

11. Exemption under 10(23C) - It is not statutorily incumbent upon the assessee to obtain registration u/s 12A of the Act, to enable it for exemption u/s 10(23C) of the Act....

12. Entitlement for exemption u/s 10(23C)(vi) – Exemption u/s 11 – Deposits and donations added – Nature of the Institution – Educational OR profit motive - exemption allowed - AT

13. Allowability of exemption u/s 10(23C)(vi) - Allegatin that, assessee Society has continued to divert its funds towards non-educational activities by way of huge advances...

14. Rejection of the application filed u/s. 10(23C)(vi) - university / educational institution - means may be determined based on economic condition or the situation of the...

15. Refusal of registration u/s 10(23C)(vi) - Although the ld. CIT (E) has said so, it nowhere stands proved that the funds/income of the Applicant are being utilised for...