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2009 (8) TMI 860 - AT - Income TaxExtract: .......uence. 8.1 In view of the above findings, the surplus of Rs. 46,97,349 in college account is held to be exempt under section 10(23C)(iiiab) and will not form part of the taxable income. The assessee rsquo s plea on, this point is allowed. The addition of Rs. 14,61,000 is also deleted. 9. In the result, the assessee rsquo s appeal is partly allowed.
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