Surplus doesn’t Bar Trust from seeking Section 10(23C)(vi) Exemption: Rajasthan HC

Chandigarh Manav Vikas Vs Chief Commissioner of Income Tax (Rajasthan High Court)

Introduction: The Rajasthan High Court recently adjudicated on the case of Chandigarh Manav Vikas versus the Chief Commissioner of Income Tax. The key issue was whether the generation of surplus income each year would disqualify a trust from seeking exemption under Section 10(23C) (vi) of the Income Tax Act.

Detailed Analysis: Chandigarh Manav Vikas, a charitable trust, sough

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