The Supreme Court on Wednesday said in a major judgment that educational institutions will not be entitled to approval under Section 10(23C) of the Income Tax Act, where their object appears to be profit-oriented. The IT Act i.e. Section 10 of the Income Tax Act exempts certain classes of income from taxation. During the hearing of the matter, a bench headed by Chief Justice UU Lalit observed that one of the issues which needed to be resolved in this matter was the correctness of the word 'sole' in section 10(23C)(vi) of the Income Tax Act. The meaning is related to, that is, exempt income because the university or other educational institution concerned exists only for educational purposes and not for profit purposes.
The Supreme Court said, where the object of the institution appears to be profit-oriented, such institution shall not be entitled to approval under section 10 (23C) of the IT Act.
Also Read: Parle-G: The company is working on its expansion, and plans to buy this Polish company!
Govinda Health Update: When will Govinda be discharged from the hospital? Their wife Sunita told about the actor's health.
Fans and well-wishers of actor Govinda are worried about his health. On Tuesday morning, the actor was accidentally injured due to a bullet shot from his licensed revolver, after which he is
IND vs AUS 5th Test: Big blow to Indian team before Sydney Test match, star bowler out due to injury
India vs Australia's five-match Test series is currently tied at 1-1. The fifth and last match of this series is to be played in Sydney from January 3, 2025. Before this Test match, the Indian team
One Nation One Election: Election Commission's reaction on One Nation One Election, What did CEC Rajeev Kumar say?
The discussion about 'One Nation, One Election' is hot across the country. In this discussion, there is talk of holding simultaneous elections for Lok Sabha and state assemblies. Amid uproar over the
Ram Mandir: Devotees will be given darshan of Ramlala state-wise, those who cannot understand Hindi will get language friends.
After the consecration of Ram Lalla, a darshan campaign will be conducted for devotees from India and abroad from Republic Day till the end of February. Consideration is being given to giving
Big action in NEET-UG paper leak case, CBI detains four students of Patna AIIMS.
As the investigation of the NEET UG paper leak case is progressing, new faces are coming to the fore in the paper leak case every day. The CBI took major action in the paper leak case late on
India's Got Latent Row: Ranveer remains out of police reach and has not given any answer, not even to the investigating agency.
Recently, Ranveer Allahabadia made objectionable comments in comedian Samay Raina's YouTube show 'India's Got Latent'. He was heavily criticized for this, and a police complaint was lodged against the
Joint Statement of India and Egypt; The world should stop giving shelter to terrorism, another Muslim country's indirect warning to Pakistan
India and Egypt have appealed to all the countries of the world not only to stop giving shelter to any kind of terrorist organizations and terrorists but also to take steps to eliminate them from
Hamas Israel Conflict: Hamas attacks family, boy survives; death of parents
Deadly attacks continue between Hamas and Israel. Meanwhile, an Israeli-American teenager survived a siege on his home by Hamas attackers over the weekend. His parents saved him from the bullets
PM Modi will address the All India Conference of Law Ministers and Secretaries today, the program being held in Gujarat
Prime Minister Narendra Modi will address the inaugural session of the All India Conference of Law Ministers and Law Secretaries through video conference today. The two-day conference is being hosted
PM Modi In US: Discussion on issues that will make the world a better place; Excited diaspora reflects the unbreakable bond between India and US
Prime Minister Narendra Modi shared the highlights of his US visit on social media and said that the visit was positive. In this, many topics were discussed to make the earth better by attending
