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2011 (11) TMI 470 - HC - Income TaxApproval u/s 10(23C) - denial of claim as “existing” educational institutions are eligible and unless educational activities commence, it cannot be said that the University is existing - Held that:- It has not been controverted by authority concerned or Revenue that the petitioner is a University established solely for educational purposes. The petitioner has applied for approval on 29.01.2009 soon after it was included in the schedule and has categorically averred that a Global Law College has started in September, 2009. In a period of 8 months, the petitioner was able to obtain recognition from the Bar Council of India, UGC, and has also set up infrastructure for starting law courses. Therefore, the petitioner is existing educational institution. The approval u/s 10 (23C) (vi) is a onetime approval after its amendment w.e.f. 24.11.2006. Approval is not for any assessment year specific. Thus the argument raised that the petitioner can be considered to be an existing educational institution in the next A.Y. is wholly unwarranted. Chief CIT, Panchkula is directed to pass an order in terms of the observations made above. See Oxford University Press (2001 (1) TMI 79 - SUPREME COURT)- Decided in favor of assessee.
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