Denial of exemption u/s 10(23C)(vi) - CIT(E) observed the huge ...

Exemption Denied: Section 10(23C)(vi) Disallowed Due to Profit Motive; Entity Must Prove Sole Educational Purpose Annually.

May 19, 2023

Case Laws Income Tax AT

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 year the taxpayer is found to be existing solely for educational purposes and not for purposes of profit, the assessee still has to continuously satisfy this pivotal condition each and every year. - Since the assessee has been found to be not ‘existing’ solely for the purposes of education, denial of exemption u/s 10(23C)(vi) of the Act is upheld. - AT

View Source

← Previous Next →

Denial of exemption u/s 10(23C)(vi) - CIT(E) observed the huge ...

Exemption Denied: Section 10(23C)(vi) Disallowed Due to Profit Motive; Entity Must Prove Sole Educational Purpose Annually.

May 19, 2023

Case Laws Income Tax AT

You may also like:

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

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...

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...

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...

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...

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...

Deduction u/s 10(23C) – activities of the Board for educational purposes - profit motive - huge profits and surplus income - benefit of exemption denied - AT

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,...

Exemption u/s.10(23)(vi) - The assessee-trust does not have profit motive, the small profit generated while carrying out charitable activities, does not mean that...

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...

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...

Withdrawal of exemption granted u/s 10(23C)(iv) - DGIT(E) erroneously drew a distinction between corpus and non-corpus donations made by it to HNF - Hamdard’s is not...

Benefit of exemption - Approval u/s 10(23C)(vi) was granted to trust as a whole or for specified institution only - We are in complete agreement with the ld....

Exemption u/s.10(23C)(vi) - payment of lease rent to trustees of the trust - ld. CIT(E) had stated that this payment of lease rent is in violation of provisions of...

Grant of exemption u/s 10(23C) (vi) and (via) - running of a school - Merely because some profit is generated does not ipso facto imply that the educational institution...

Quick Updates: