Supreme Court · 2016 INSC 332 · Decided 22 April 2016
Visvesvaraya Technological University v. Assistant Commissioner of Income Tax
- Court
- Supreme Court of India
- Citation
- 2016 INSC 332 · [2016] 4 S.C.R. 362
- Case number
- CIVIL APPEAL No. 4361/2016
- Decided
- 22 April 2016
- Bench
- RANJAN GOGOI, PRAFULLA C. PANT (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 10(23C)(iiiab), 23
Headnote
Income Tax Act, 1961 -- s.10(23C)(iiiab) - Exemption under - Entitlement to the assessee-University - Held: The entitlement for the exemption is subject to two conditions (i) The University is solely for the purpose of education without profit motive, and wholly or substantially financed by the Government - In the present case, the first condition is fulfilled by the University, but not the second - Therefore, the assessee-University is not entitled to exemption from payment of tax - Visweswaraiah Technological University Act, 1994 - s.23.
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