Generating surplus can’t be a sole ground to deny Sec. 10(23C)(iv) approval to an educational institute: HC

INCOME TAX : Where main object of petitioner indicated that it was in field of education and Articles of Association of petitioner did not allow an interference of profit motive but clearly indicated that surplus generated by petitioner was to be ploughed back, denial of approval to petitioner under section 10(23C)(iv) was not justifiedINCOME TAX : Where main object of petitioner indicated that it was in field of education and Articles of Association of petitioner did not allow an interference of profit motive but clearly indicated that surplus generated by petitioner was to be ploughed back, denial of approval to petitioner under section 10(23C)(iv) was not justifiedwww.taxmann.com Latest Case LawsRead More

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