INCOME TAX : Where assessee society, registered under section 12AA, was engaged in providing educational facilities through various educational institutions, since surplus earned by assessee was incidental while carrying out main objects of trust and same was ploughed back for educational purposes only, it could not be said that assessee was existing for profit purposes and, accordingly, it could not be denied exemption under section 11INCOME TAX : Where assessee society, registered under section 12AA, was engaged in providing educational facilities through various educational institutions, since surplus earned by assessee was incidental while carrying out main objects of trust and same was ploughed back for educational purposes only, it could not be said that assessee was existing for profit purposes and, accordingly, it could not be denied exemption under section 11www.taxmann.com Latest Case LawsRead More
