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2012 (12) TMI 529 - AT - Income TaxApproval u/s. 10(23C)(vi) - denial of exemption u/s. 11 - Educational income of the Trusts & Societies - Held that:- Following view taken by the coordinated benches of Tribunal in similar matters the order of the CIT(A) for the years under appeal is set aside and restore the matter to the file of AO with a direction to verify the aspect of donation, capitation fee etc., if any collected by the assessee, and if it is found that besides fulfilling other prerequisites for exemption under S.11, the assessee has not charged any money i.e. donation, building fund, auditorium fee etc, over and above the prescribed fee for the admission of students, the assessee would be entitled for exemption under S.11, even though the notification under S.10(23C)(vi) have not been received by it - in favour of revenue by way of remand. Depreciation claim denied - Held that:- AO directed to verify in respect of each asset on which depreciation claimed, whether the value of such asset was in fact allowed under S.11, and if it was so allowed, the depreciation would not be allowed in respect of such asset - Impugned order of the CIT(A) set aside and the matter restored to the file of the AO for fresh consideration - in favour of revenue by way of remand. Unrecorded capitation fees collected from the students admitted under the management quota - Held that:- Substantive additions having been made in the hands of the trustees on protective basis and as substantive additions have reached finality which has not been controverted by DR the impugned protective additions have no legs to stand - CIT(A) justified in deleting the said additions - in favour of assessee.
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