AAR: Isha Foundation’s “Gurukul” style residential school not “Educational institution”, denies exemption
Karnataka AAR rules that the education sought to be provided by Isha Foundation (registered u/s 12AA of Income Tax Act, 1961), through its “Gurukul” kind of residential school ‘Isha Samskriti’ is not exempt as per Entry no. 69 of Notification no. 9/2017 dated June 28, 2017 or any other Notification; Expounds that the entry clearly states that to claim exemption, the Applicant should be an educational institution however, the Applicant’s organization is neither providing pre-school education nor education upto higher secondary school, but is following its own curriculum in line with Bhartiya tradition of Gurukulas, and thus, is not covered under the definition of ‘educational institution’ as per the Notification; As regards Applicant's claim for exemption as an entity undertaking charitable activities as prescribed under entry 1 of Notification 9/2017- Integrated Tax (Rate),…