Rental Income Intended for Charitable & Educational Purposes Eligible for Section 10(23C)(vi) Exemption

Durgapur Society of Management Science Vs ITO (ITAT Kolkata) The case of Durgapur Society of Management Science vs. ITO (Income Tax Appellate Tribunal, Kolkata) revolves around the tax implications of rental income earned by a society registered under Section 10(23C)(vi) of the Income Tax Act, 1961 (“the Act”). The society, engaged in promoting education, faced a challenge to its assessment order for the Assessment Year 2018-19. This article delves into the grounds of appeal, the contentions raised, and the subsequent decisions made by the Commissioner of Income Tax (Exemption) and...