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2016 (10) TMI 968 - AT - Income TaxEligibility of exemption u/s 11-12 - whether the 'hostel facility' of the school provided exclusively to students of the dental college is not an integral part of "education" u/s 2(15) ? - maintain separate books of accounts for claiming exemption with respect to profits/income over expenditure earned from such activitiesHeld that:- CIT(Appeals) has given a categorical finding that no separate books of accounts for hostel activities were undertaken. Having relied upon the judgment of DIT(E) v. Willington Charitable Trust [ 2010 (10) TMI 153 - Madras High Court] he denied the benefit of exemption u/s. 11 of the Act with respect to hostel activities. Even during the course of hearing, these findings of CIT(Appeals) was not controverted and therefore, of the view that in the absence of separate books of accounts, the assessee is not entitled for benefit of exemption u/s. 11 of the Act with respect to hostel activities and in light of these facts, if any depreciation with respect to hostel activities are already allowed while calculating the income/other expenditure from the main activities of the assessee, the same may be disallowed in accordance with law. Therefore, no infirmity in the order of CIT(Appeals) and accordingly confirmed - Decided against assessee
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