Held that main object of the institution is educational. Surplus re deployed regularly for educational purposes. Lese rent paid to trustees neither excessive nor un reasonable. Denial of exemption was not justified. (AY. 2019-20)
Sardar Partapsingh Education Society v. CIT(E) (2021) 89 ITR 19 (SN) (Mum.)(Trib.)
S. 10(23C) : Educational institution-Surplus re deployed regularly for educational purposes-Lese rent paid to trustees neither excessive nor un reasonable-Denial of exemption. Was not justified [S. 10(23C)(vi), 13(1)(c)]