Punjab & Haryana HC allows Benefit U/s 12 AA of Income Tax for Educational Trust for Educational Advancement [Read Order]
It was observed that the institute is a duly registered educational trust and whatever earnings it receives are also utilised for the purpose of advancement of education, the institution could not have been denied the benefit of Section 12AA of the act
In a significant ruling, the Punjab and Haryana High Court ruled that benefit under section 12 AA of the Income Tax Act, 1961 is allowable to an institute registered as an educational trust which using its earnings solely for educational advancement. The assessee/respondent, Yadvindra Public School Association had applied for the registration of its association under…
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