1991 (8) TMI 42 - HC - Income Tax

Summary

The High Court in Patna ruled in favor of the assessee, holding that its entire income was exempt under section 10(22) of the Income-tax Act, 1961 as it was an educational society running an educational institution solely for educational purposes. The Tribunal's decision was upheld based on precedent. The judgment was agreed upon by Judges B. C. Basak and G. C. Bharuka.