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2019 (1) TMI 1005 - ITAT AMRITSARQualification for exemption u/s 10(23C) - assessee is a school of “Sanatam Dharma Paracharak Sabha” a society registered in the office of Registrar of Joint Stock Companies under Societies Registration Act on 5.2.1914 - no evidence of the assessee claiming exemption u/s 10(23C) (iiiad) of the Act in the past - assessee furnished its application in form No. 56D - Held that:- For claiming exemption u/s 10(23C)(iiiad) of the Act, the entity must be an University or other educational institute existing solely for educational purpose and not of the purposes of profit. In the present case it is not in dispute that the assessee is a school which is affiliated to the ‘Council for the India School Certificate of Examination’ (ISCE), copy of which is placed on the record. It is also not the case of the Department that the assessee school was existing for the purpose of the profit. See CIT and Another Vs Children Education Society [2013 (7) TMI 519 - KARNATAKA HIGH COURT] Thus when the assessee was running a school for educational purposes and not for earning profit, then it was entitled to the exemption u/s 10(23C)(vi) of the Act. - Decided in favour of assessee.
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