An Institution ostensibly for philanthropic purpose and in reality for profit, would not qualify for Section 10(23C) deduction

A plain reading of Section 10(23C) makes it clear that the   legislature   has   categorised   for   deduction   income   of   those  institutions   which   ‘exist   solely’   for   philanthropic   purpose   with   a  further   stipulation   that   they   would   exist   ‘not   for   the   purpose   of  profit’.     In   other   words,   the   institution   should   not   exist   for   a commercial purpose.  The first proviso to this sub­section requires an  

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