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TMI Blog2018 (5) TMI 1843X X X X Extracts X X X X X X X X Extracts X X X X ..... ion can be declined. In the present case, the amount of receipt during the assessment years in question exceeded more than ₹ 1 crore. The assessee utilized the amount for purchase of land for further extension of school building, which was for educational purpose only. Thus, the exemption under Section 10(23C)(vi) of the Act was rightly granted to the assessee. - Decided in favour of assessee. - ITA No. 51 of 2018 - - - Dated:- 16-5-2018 - MR AJAY KUMAR MITTAL AND MR TEJINDER SINGH DHINDSA, JJ. For The Appellant-Revenue : Mr. Denesh Goyal, Senior Standing Counsel ORDER Ajay Kumar Mittal,(ACJ) 1. The appellant-revenue has filed the instant appeal under Section 260A of the Income Tax Act, 1961 (in short, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hether on the facts and circumstances of the case, the order of the Appellate Tribunal is suffering from nonapplication of mind and is unreasonable and arbitrary? 2. A few facts relevant for the decision of the controversy involved as narrated in the appeal may be noticed. An application was filed by the respondent-assessee for grant of registration under Section 10 (23C)(vi) of the Act on 13.08.2015 in the office of the Commissioner of Income Tax (E), Chandigarh, [CIT(E)] who, while passing an order under Section 10 (23C)(vi) of the Act denied approval vide order dated 31.08.2016, Annexure A.1. It was inter alia recorded that Section 10 (23C)(vi) of the Act was clearly applicable to any university or other educational institution ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Tribunal directed CIT(E) to grant exemption under Section 10(23C)(vi) of the Act from the date of application. The relevant observations recorded by the Tribunal in this regard read thus:- Now, coming to the instant case, as it reflects from the details of four assessment years i.e. 2012-13, 2013-14, 2014-15 2015-16, that the amount of receipt has been exceeded more than ₹ 1 crore, therefore, the assessee preferred the registration u/s 10(23C)(vi) and in the previous year as it reflects from the balance sheet, the assessee utilised the amount for the purchase of land for further extension of the School Building etc. that certainly goes to prove that the same is being utilised for the educational purposes only because the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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