Visvesvraya Technological University not entitled to exemption from Income Tax: SC [Read Judgment]

The Supreme Court has held that Visvesvraya Technological University (VTU) , a University in Karnataka which exercises control over all Government and Private Engineering Colleges within the state, is not entitled to the benefit of exemption from Income Tax under Section 10(23C)(iiiab) of the Income Tax Act.Assessing officer had rejected the claim of exemption by the University and the...