No denial of exemption if surplus earned on incidental activities was ploughed back for use towards trust’s object: ITAT

INCOME TAX : Where assessee society, registered under section 12AA, was engaged in providing educational facilities through various educational institutions, since surplus earned by assessee was incidental while carrying out main objects of trust and same was ploughed back for educational purposes only, it could not be said that assessee was existing for profit purposes and, accordingly, it could not be denied exemption under section 11

from www.taxmann.com Latest Case Laws https://www.taxmann.com/research/direct-tax-laws/top-story/101010000000314675/no-denial-of-exemption-if-surplus-earned-on-incidental-activities-was-ploughed-back-for-use-towards-trust’s-object-itat.aspx