Dismissing the appeal of the revenue the Court held that , merely because there is an excess of income over expenditure the exemption cannot be denied . Order of Tribunal is affirmed . (C.A No. 619 of 2011 dt.17 -8 2021 )
CIT v. Angels Education Trust ( 2021 ) 129 taxmann.com 305 ( Mad ) ( HC)
S. 12AA : Procedure for registration –Trust or institution-Education- Excess of expenditure over income – Exemption cannot be denied [ S. 2(15), 11 ]
S. 12AA : Procedure for registration –Trust or institution-Education- Excess of expenditure over income – Exemption cannot be denied [ S. 2(15), 11 ]