Educational Institutions making Profits and Gains cannot Claim IT Exemption u/s 10(23C): Supreme Court [Read Judgment]

Educational - Institutions - Profits - Gains - Claim - IT - Exemption - Supreme - Court - TAXSCAN

The Supreme Court of India, in a significant ruling, held that, where the objective of the institution appears to be profit-oriented, such institutions would not be entitled to approval of exemption under the Section 10(23C) of the Income Tax Act,1961, notably only to be applied prospectively, through the Division Bench of Chief Justice of India…

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