2016 (10) TMI 61 - SCH - Income Tax

Review petition - Exemption from payment of tax under the provisions of Section 10(23C)(iiiab) - direct grant from the Government - Purpose of University Held that - No case for review of judgment dated 22nd April, 2016 2016 (4) TMI 874 - SUPREME COURT is made out. Consequently, the review petitions are dismissed. As decided the appellant University does not satisfy the second requirement spelt out by Section 10 (23c) (iiiab) of the Act. The appellant University is neither directly nor even substantially financed by the Government so as to be entitled to exemption from payment of tax under the Act. - Decided against assessee