Friday, 18 December 2015

Sec. 10(23C)(vi) exemption can't be denied if institution exists solely for educational purposes and

IT: Once assessee existed solely for educational purposes and not for purpose of profit, CBDT could not deny to issue certificate of exemption under section 10(23C)(vi); however, Assessing Officer could go into question whether third and thirteenth proviso was met and then passed appropriate order

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