M/S QUEEN'S EDUCATIONAL SOCIETY vs. COMMR.OF INCOME TAX

Bench: The Uttarakhand High Court, Nainital, May Be Gleaned From The Facts Of One Of Them, Namely, The Queen’S Educational Society Case. The Appellant Filed Its Return For Assessment Years 2000-2001 & 2001-2002 Showing A Net Surplus Of Rs.6,58,862/- & Rs.7,82,632/- Respectively. Since The Appellant Was Established With The Sole 2

30 Page 31 JUDGMENT providing long-term finance for construction or purchase of houses in India for residential purposes and[which is eligible for deduction under clause (viii) of sub-section (1) of Section 36]; [(ix-a) deposits with or investment in any bonds issued by a public company formed and registered in India with the main object of carrying