NLU Delhi not engaging in business; existing solely for educational purposes: ITAT quashes ₹1.5 lakh penalty

The penalty was imposed after the University had declared its income for the assessment year 2018-19 as 'nil', claiming exemption under the Income Tax Act.
NLU Delhi
NLU Delhi

In a relief for National Law University, Delhi (NLU Delhi), the Income Tax Appellate Tribunal (ITAT) recently quashed a penalty imposed on the University under the Income Tax Act, holding that it is not engaged in business and rather exists only for educational purposes [NLU Delhi v. Additional Commissioner of Income Tax].

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