Dismissing the appeal of the assessee the Court held that, the property was purchased in name of Secretary and Manager of Society for running a school and the profits of institution was being used for self aggrandizement. Accordingly the denial of exemption is held to be justified.
Sree Chithra Educational Cultural And Film Society v. DIT (2019) 412 ITR 76 / 263 Taxman 93 (Ker.)(HC)
S. 10(22) : Educational institution-Property was purchased in name of Secretary and Manager of Society for running a school- Profits of institution was being used for self aggrandizement-Denial of exemption is held to be justified. [S. 12AA]