9911796707
TMI Blog2012 (9) TMI 217X X X X Extracts X X X X X X X X Extracts X X X X ..... Effective grounds of the Revenue in ITA No.270/Hyd/2011 for assessment year 2007-08, read as under- "1. The order of the CIT(A) is not acceptable as it is erroneous both in law and facts. 2. The CIT(A) ought to have appreciated the fact that obtaining approval of the prescribed authority is mandatory as per the plain reading of the provisions of Sec.10(23C)(vi) of the I.T.Act, 1961. 3. Under Rule 2CA of the I.T. Rules and as per sub-clause (vi) of the 23 of Sec.10 of the I.T. Act and educational institution or University whose aggregate annual receipts exceed Rs. One Crore has to obtain approval from the prescribed authority. 4. The learned. CIT(A) erred in upholding that the assessee society is registered u/s. 12A of the I.T. Act, 1961 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essing officer had taken NIL income which is a mistake apparent from record, rectified subsequently u/s. 154 of the I.T. Act." Thus, the main issue involved in both these appeals relate to assessee's claim for exemption in respect of its income from tax, though the appeal for assessment year 2005-06 also raises a question as to the legality and validity of the order passed under S.154 of the Act, to rectify the mistake which allegedly crept in the order of assessment dated 28.12.2007 passed under S.143(3) of the Act, in relation to the said claim of exemption from tax made by the assessee. 3. We heard the parties and perused impugned orders of the lower authorities and other material available on record. It is an undisputed fact that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... We find that this main issue involved in both these appeals admittedly, viz. exemption of its income from tax, is covered by the order of the Hyderabad Bench 'A' of the Tribunal dated 15.4.2009 in the cases of Vasavi Academy of Education, Hyderabad in ITA No.1133/Hyd/2006 for the assessment year 2003-04 and order dated 17.4.2009 in ITA No.1206/Hyd/2007 for the assessment year 2004-05, wherein it was held that if donations are received compulsorily for the admission of students, by whatever name it may be called, i.e. donation, building fund, auditorium fund, etc. over and above the prescribed fee, from the students, the assessee would not be entitled for exemption either under S.10(23C) or under S.11 of the Act. Further, we find that the C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... deciding the issue effectively. Similar view was taken by us in the case of M/s. Jamia Nizamia in ITA No.763/Hyd/2007 dated 30.6.2008, in the case of International Educational Academy, Hyderabad in ITA No.494/Hyd/2007 and 518/Hyd/2008 for the assessment years 2002- 2003 and 2004-05 and Sri Sai Sudhir Educational Society, Hyderabad in ITA No.999/Hyd/20-06 for the assessment year 2003-04. Therefore, we set aside the orders of the lower authorities and remit back the matter for both the years to the file of assessing officer with a direction to assessing officer that he shall reconsider the entire issue in the light of judgment of Supreme Court in the case of M/s Islamic Academy of Education & Another Vs. State of Karnataka and Another (supra) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e the requisite order in accordance with law, even though the Tribunal could not have made an order enhancing the assessment. However, the Tribunal is not supposed to make out a third case arbitrarily. We have carefully gone through this judgment. This judgment is delivered in the context, wherein the issue is whether the sale transactions were genuine or not and not relating to the quantum of sale price. However, the Tribunal on appeal reduced the sale price to half of the amount claimed by the assessee, instead of deciding on the genuineness of the transaction, without any documentary evidence. In that circumstance, the Hon'ble High Court has held as above. In the present case, the issue is relating to allowability of exemption under S.1 ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
