No Tax Exemption if society Fund was used to provide Scholarships to students for Business Need of group entity

M/s. Commitment Mortality Vision Education Society Vs ACIT (ITAT Delhi) In the instant case by way of collusion between the FIITJEE Group and the assessee, the funds have been given to the Group entities in the name of disbursement of scholarship etc. This collusion is evident from the statement of Sh. Aseem Gupta as how the cheque books of the assessee society were controlled by the authorities of the FIITJEE group. By way of providing scholarship to the meritorious students, the FIITJEE group has served its business purposes of attracting the students to various courses run by them. Thus in ...