Section 10(23C)(iiiab) Rejected for Lack of Educational Activity and Government Funding

Tamil Nadu Cooperative Union vs ACIT (ITAT Chennai) Co-operative Union Not an Educational Institution; Exemption u/s 10(23C)(iiiab) Denied, But Gross-Receipts Issue Remanded Assessee, a Cooperative Society formed to impart cooperative education & training, claimed exemption u/s 10(23C)(iiiab) by treating itself as an educational institution substantially financed by Government. AO denied exemption holding that Assessee neither runs an educational institution nor is wholly or substantially financed by Government; CIT(A)/NFAC confirmed this view. Tribunal upheld denial of exemption, observin...