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TMI Blog2011 (4) TMI 1493X X X X Extracts X X X X X X X X Extracts X X X X ..... to the income of the assessee society under provisions of Section 10(23C)(vi) of the Income-tax Act, 1961. 3. Facts in brief are that the assessee is a society with the main object of providing education to the students. As the receipt of the assessee was more than ₹ 1 crore, it was required to obtain approval of prescribed Authority for claiming exemption u/s 10(23C)(vi) of the Act. 4. During the course of scrutiny assessment, the AO found that the assessee has not been granted exemption u/s 10(23C)(vi) of the Act for the year under consideration, therefore, he declined claim of exemption in respect of excess of income over the expenditure amounting to ₹ 90,31,280/-. By the impugned order, the ld. CIT(A) observed that th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... easonable time. Various case laws were cited in support of its contention that in the absence of any acceptance or refusal within a reasonable time, the application of the assessee should be treated as accepted. In view of these judgements, the ld. Authorized Representative contended that the ld. CIT(A) was justified in directing the AO to allow exemption u/s 10(23C)(vi), notwithstanding the fact that no actual exemption was granted by the competent authority. 8. We have considered the rival contentions an carefully gone through the orders of the authorities below and find from record that relevant financial year under consideration ended on 31st March, 2004, whereas the assessee has alleged to apply registration u/s 10(23C)(vi) on 23.12 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nnot be given benefit for the relevant assessment year under consideration. 10. Furthermore, neither the assessee nor the ld. CIT DR could bring any material on record to substantiate that assessee s application is still pending with the Department. The assessee could not produce any letter filed with the Department subsequent to the filing of application asking for issue of exemption certificate nor could show any objection if any raised by the Department or any information called by the Department for grant of such exemption. Even the ld. CIT DR could not bring any material on record to suggest that for noncompliance of any detail/information, the Department has refused the approval u/s 10(23C)(vi) of the Act. From the record, it is no ..... X X X X Extracts X X X X X X X X Extracts X X X X
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