Advance given by educational institution u/s 10(23C)(iiiad) to another institution existing for educational purposes does not take away the exemption of educational institution Vairams Kindergarten Society [2015] 63 taxmann.com 165 (Chennai - Trib.) FEBRUARY 6, 2015 Madras High Court in the case of V.G.P. Foundation rendered in the context of funds given to a sister concern, which was a private limited company of which the trustees of the assessee were also directors. However, in the instant case, the assessee, being an educational institution, has advanced money to another charitable society registered under section 10(23C)(vi) of the Act and further the recipient society is also an educational institution. Also decision rendered in the case of St. Francis Convent School (P&H) is also not applicable, since the funds were diverted by the assessee therein to the Diocese of Jalandhar.