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2013 (10) TMI 161 - KARNATAKA HIGH COURTViolations of condition specified in section 11(5) of the Income Tax Act - exemption u/s 10(23C)(vi) - advance against purchase of property - During the year no purchase of property had been made and it remained as advance. - whether such advance amount can be treated as utilized for educational purpose – Held that:- When two fact finding authorities recorded a categorical finding that there is violation of Section 11(5) of the Act, the Tribunal committed a serious error by ignoring the same holding that the assessee is entitled to the benefit - If the Tribunal was not inclined to go into the merits of the case, the proper course would have been to set- aside the order of the authorities, remit the matter back to the Assessing Authority to take note of the exemption and then to see whether the violation of Section 11(5) of the Act. - matter restored to AO to reconsider the issue and pass fresh orders – Decided in favor of Revenue.
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