Denial of Exemption u/s 10(23C)(vi) justified as education not being the sole purpose

Indian Institute Of Banking & Finance Vs CIT (ITAT Mumbai) ITAT Mumbai held that denial of exemption under section 10(23C)(vi) of the Income Tax Act justified as assessee has been found to be not ‘existing’ solely for the purposes of education. Facts- The assessee claiming itself to be an educational institution existing solely for educational purposes and not for the purpose of profit filed an application dated 24/10/2017 seeking exemption under section 10(23C)(vi) of the Act for the assessment year 2017-18. Upon perusal of the aforesaid application and the details filed by the assess...