Sec. 10(23C)(vi) exemption can't be denied if institution exists solely for educational purposes and not for profit

IT : Where assessee, running a higher secondary school, claimed exemption under section 10(23C)(vi), in view of fact that assessee was not carrying on any other activity apart from imparting education and, moreover, surplus generated had been utilised for school development purposes, claim so raised by assessee was to be allowed

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