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TMI Blog2016 (11) TMI 1022X X X X Extracts X X X X X X X X Extracts X X X X ..... averi And Mahendra Maheshwari, JJ. Mr. R.B. Mathur for the appellant Mr. L.L. Gupta for the respondent ORDER 1. Parties are in agreement that the controversy involved in this appeal is squarely covered by the decision of this court in Income Tax Appeal No. 404/2011 (Commissioner of Income Tax vs. M/s Arvind Bhartiya Vidhyala Samiti) other matter decided on 21st August, 2012 holding as under:- 2. I.A. No. 17683/2012 in D.B. Income Tax Appeal No. 236/2009 and I.A. No.17670/2012 in D.B. Income Tax Appeal No. 404/2011 are allowed. 3. At the request of the parties, the appeal was heard finally. 4. The appeal is directed against the common order dated 19th September, 2008 passed by Income Tax Appellate Tribunal, Ja ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appeals, learned counsel for the appellant also agreed that order of Central Board of Direct Taxes is binding on the department and in view of order passed by Central Board of Direct Taxes, the assessee is entitled for exemption under the provisions of the Act. The order of Central Board of Direct Taxes dated 16th March, 2007 is reproduced as under:- P.No.197/115/2006-ITA, I Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 16th March, 2007 ORDER In exercise of powers conferred by the sub clause (vi) of the clause(23C) of Section 10 of the income tax Act, 1961(43 of 1961), the Central Board of Direct Taxes hereby approves that any income received b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ganization with similar objectives. f) the institution will continue to be exist solely for educational purpose. g) The institute will get its accounts audited by an accountant as defined in Explanation below sub section (2) of section 288 and furnish along with the return of income. The report of such audit in the prescribed form duly signed and verified by such accountant and setting forth such particulars as may be prescribed. 2. This order is applicable only to the recipients of income on behalf of the institution and not to any other receipt or income of such recipients. Taxability or, otherwise of the Income of the Institution would be separately considered as per the provisions of the Income tax Act, 1961; 3. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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