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TMI Blog2013 (11) TMI 423X X X X Extracts X X X X X X X X Extracts X X X X ..... controlled by the state government - In the assessment year under appeal, the assessee Board has transferred and amount of Rs. 5 crores to the Himachal Pradesh Government from its own income. It was also noted from the record that assessee Board is not directly controlled by the State Govt. but is governed under the Separate Himachal Pradesh Board of School Education Act, 1968 - Assessee does not exist solely for educational purposes. It is in fact earning huge profits and has surplus income and profits - Assessee did not have fulfill the terms and conditions of section 10(23C)(iiiab) of the I.T. Act - No evidence or material has been filed on record to contradict the above finding of fact – Decided against the Assessee. - ITA No. 405/Chd ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... publication of books upto secondary level, publication of syllabus for various classes and conduct of examination at various levels. The assessee on the same claimed its income exempt u/s 10(23C)(iiiab) of the Income Tax Act as the said income has arisen on account of activities of the Board for educational purposes. The Assessing Officer noted that though the income of the assessee has been claimed as exempt u/s 10(23C)(iiiab) of the Income Tax Act in the return, but during the assessment proceedings, the assessee informed the Assessing Officer that it has applied for exemption of its income by filing a requisite application u/s 102(23C)(vi) of the Income Tax Act before the Chief Commissioner of Income Tax, Shimla as the gross receipts of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s have been carefully considered. It is noted that the appellant Board had applied for grant of exemption u/s 10(23C)(vi) and the said exemption was granted by the CCIT, Shimla w.e.f. Assessment year 2009-10. The appellant's request for the condonation of delay in filing the application for approval u/s 10(23C) (vi) and for grant of exemption w.e.f. A.Y. 2005-06 has been rejected by the CCIT, Shimla. Therefore there is no strength in the appellant's argument that it should be granted exemption u/s 10(23C)(vi) of the Act. Simultaneously the appellant claiming exemption u/s 10(23C) (iiiab). Thus the appellant is trying to take benefit of the provisions of two different sections of the Act at the same time. It is, however, noted that the claim ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,24,21,993/- to the taxable income of the appellant is, therefore, upheld, as the appellant is not eligible for exemption under any of the provisions of the income-tax Act. In the result, the appeal of the appellant is dismissed.' 7. The Ld. Counsel for the assessee reiterated the submissions made before the authorities below and submitted that the assessee's claim of exemption of income is established u/s 10(23C)(iiiab) of the I.T. Act. He has referred to letter dated 22.2.2010 filed before the Ld. CIT(A) to show that financial assistance have been received by the assessee Institution from the Government of Himachal Pradesh Board of School Education after assessment year 2000-01 and in assessment year under appeal it has received assis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the State Government. The Ld. CCIT Shimla has granted approval u/s 10(23C) (vi) of the Income Tax Act to the assessee AOP from the assessment year 2009-10 onwards subject to certain conditions, therefore, the same would not apply to the assessment year under appeal i.e. 2006-07. The Ld. CIT(A) on examination of the assessment record also found that assessee had never been financed by the Government during the assessment year in appeal and other years. It was also found that assessee has been generating its own income from sale of books and on account of registration fees. The Ld. CIT(A) therefore, on examination of the records found that the aid from the State Government to the assessee is nil and it was wrongly mentioned by the Assessing ..... X X X X Extracts X X X X X X X X Extracts X X X X
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