ITAT Denies Exemption u/s 10(23C)(vi) of Income Tax Act on not Existing Solely for Purposes of Education [Read Order]

By Kalyani B. Nair - On June 2, 2023 7:30 am - 2 mins read
ITAT Denies Exemption -Income Tax Act on not Existing Solely for Purposes of Education - ITAT - TAXSCAN

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT), denied income tax exemption under Section 10(23C)(vi) of the Income Tax Act on not existing solely for purposes of education. The assessee is an Indian company incorporated under section 26 of the Indian Companies Act, 1913. Initially, the company was an association called the Indian…

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