Court Rules Assessee's Primary Purpose as Educational Despite Profit Motive; Exemption u/s 10(22)/10(23C) Granted.

The conclusion that the Assessee did not exist solely for educational purposes, but for the purposes of profit on the basis that it had advanced the aforesaid sums to Col. Satsangi and/or his family members who were involved in the affairs of the Assessee, is unwarranted. - exemption under Section 10(22)/10(23C) allowed - HC .....

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