Home » TaxBuzz » TaxBuzz | “Solely” means ‘Only’ – Supreme Court on Scope of Exemption u/s 10(23C)

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We are pleased to share with you a copy of our in-house publication – “TaxBuzz…”, wherein we have analysed the recent ruling of the Supreme Court in a batch of matters titled New Noble Education Society. The Supreme Court in the said ruling, has delved into aspects relating to registration of ‘education institutions’ under section 10(23C) of the Income Tax Act, 1961, specifically, the scope and meaning of the term “existing solely for educational purposes”. In their ultimate analysis and resulting conclusion, the Court has reached a view divergent from the earlier prevailing legal position thereby resulting in a significant shift in the legal position for the future.

The said ruling is likely to impact educational institutions and other charitable organisations, availing or seeking exemption/ registration under the beneficial provisions of section 10(23C) of the Income Tax Act, 1961, and thus, requires attention of such institutions.

We trust that you will find the same useful.

Looking forward to receiving your valuable feedback.

For any details and clarifications, please write to:
Mr. Rohit Jain: [email protected]
Mr. Aniket D. Agrawal: [email protected]