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

13. Having set out the ITAT order, the Uttarakhand High Court held: “Thus, in view of the established fact relating to earned profit, we do not agree with the reasoning given by the ITAT for granting exemption.” 14. Having said this, the impugned judgment goes on to quote Aditanar Educational Institution v. CIT. as follows:- “After meeting the expenditure