Mere surplus year after year cannot be deciding factor to deny exemption U/s. 11

Assessee society is generating surplus year after year is not the deciding factor to determine whether it is eligible for exemption under section 11 of the Act. And on this ground alone, the exemption claimed by the assessee society under section 11 can not be denied. What is relevant to examine is whether the surplus so generated is ploughed back in furtherance of its educational objectives and related activities or not. RELEVANT EXTRACT OF THE ITAT JUDGMENT 3. The brief facts of the case are that the assessee is a society registered under the Rajasthan Society Registration Act, 1958 vide reg...