University not wholly or substantially financed by govt not eligible for exemption u/s 10(23)(iiiab)

CA Saurabh Chokhra

Brief of the case:

i. The  Hon’ble Supreme court in the above cited case held that Visveswaraiah Technological University being not wholly or substantially financed by government is not entitled to claim exemption u/s 10(23)(iiiab).

ii. Further, the fees collected by the University as per prescribed govt. norms cannot be said to finance provided by govt.  The

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