Society not being Wholly/Substantially financed by Government can’t raise Claim for Exemption u/s 10(23C)(iiiab) of Income Tax Act: ITAT [Read Order]

Society - Society not being Wholly - Government - Claim - Exemption - taxscan

The Raipur bench of the Income Tax Appellate Tribunal (ITAT) held that the society not being wholly/substantially financed by the government cannot raise a claim for exemption under Section 10(23C)(iiiab) of the Income Tax Act, 1961. The assessee society, which was established with the Direction of the Education Department of the Chhattisgarh Government had filed…

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