Exemption available even if DPS made profits from its joint venture with satellite schools; SLP dismissed

IT: SLP dismissed against High Court ruling that where assessee society was set up with object of imparting education and it had entered into franchise agreements with satellite schools and also used gains arising out of these agreements in form of franchisee fees for furtherance of educational purposes, it fulfilled requirements to qualify for exemption under section 10(23C)(vi)

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