2025 (1) TMI 1061

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..... ognised by the state government. There is no doubt that the trust having education as its main object. In the entire history of the trust since 1962, education is the only activity undertaken by it, the fact of which is not been disputed by the revenue authorities. Hence, the claim of exemption u/s 10(23C) is allowable and the revenue authorities are directed to nullify the demand notice issued. Appeal of the assessee is allowed.
Dr. BRR Kumar, Vice President And Shri Tr Senthil Kumar, Judicial Member For the Appellant : Shri S U Mashruwala, AR For the Respondent : Shri Rignesh Das, Sr.DR ORDER PER: DR. BRR KUMAR, VICE PRESIDENT: This appeal has been filed by the Assessee against the order passed by the Ld. Commissioner of Income Ta .....

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..... n the return of income filed. Hence the wrong action of CPC for not granting eligible exemption of Rs. 57,57,960 should be rectified and claim should be allowed. 5. The appellant urges that any procedure defect can be rectified at the appellant stage. Hence the claim made u/s. 10(23)(c) under wrong head if any at the time of filing of ITR can be allowed at the appellant stage. Hence the deduction u/s. 10(23)(c) of Rs. 57,57,960 shown in ITR be allowed. 6. The appellant was under a bonafide belief that its income falls under the exemption u/s. 10 which was denied by CPC erroneously and therefore it preferred an application for rectification as there was no fresh claim. The appellant urges that it has challenged the denial of claim of exe .....

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..... f income, order of the CPC, rectification order and order of the Ld. CIT(A). The issue before us narrows down as to whether the assessee is eligible for exemption u/s.10 (23C) (iiiad) of the Act or not. The facts relating to adjudication of this issue are that the assessee is an organization running education in music from 1961, having approved for awarding degree and post graduate degree to the students by the Government of Gujarat. The syllabus has also been decided by Department of Education, Government of Gujarat. The assessee has been registered u/s.12AA of the Act. 5. The provisions of section 10(23C) (iiiad) of the Act read as under: "…(iiiad) any university or other educational institution existing solely for educational p .....

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