2004 (7) TMI 48

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..... htly held by the Tribunal, section 11(4A) of the Act is not at all attracted to the instant case. - "It would be unreal and hypertechnical to hold that the assessee-society was only a financing body and would not come within the scope of 'other educational institution' as specified in section 10(22)
Judge(s) : P. D. DINAKARAN., N. KANNADASAN. JUDGMENT The judgment of the court was delivered by P.D. Dinakaran J. - The Revenue has preferred the above appeal against the order dated October 24, 2000, made in I.T.A. No. 1925/Mds of 1995 on the file of the Income-tax Appellate Tribunal, Madras "B" Bench, under the following facts and circumstances of the case. The respondent/assessee is a trust engaged in the activities of running educat .....

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..... 85-86 and the hon'ble High Court has directed the Tribunal to state a case and refer the question of law? (ii) Whether, on the facts and circumstances of the case, the Tribunal is right in law in confirming the order of the Commissioner of Income-tax (Appeals) especially when the assessee is not a university or other educational institution existing solely for educational purposes and as such is not entitled to claim the benefit of section 10(22)? and (iii) Whether, on the facts and circumstances of the case, the Tribunal is right in law in holding that the provisions of section 11(4A) were not attracted in the present case and as such the assessee was entitled to the exemption as an educational institution under section 10(22)?" Learned .....

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..... ying on business during the assessment year 1992-93, nowhere in the order, have the authorities concerned stated that the nature of business said to have carried on by the respondent/assessee (trust) is in violation to the provision of section 11(4A) of the Act. Concededly, the object of the respondent/assessee (trust) is to establish run, manage and assist colleges, schools and other educational institution solely for educational purpose and in that regard to raise or collect funds, donations, gifts etc. We are, therefore, of the considered opinion that the respondent/assessee (trust) is certainly entitled to the benefit of section 10(22) of the Act referred to above. In such event, as rightly held by the Tribunal, section 11(4A) of the A .....

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