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2013 (5) TMI 101 - AT - Income TaxRejection of claim exemption u/s 11 & also of depreciation – Assessee has not obtained approval u/s. 10(23C)(iv) of the Act. None appeared for respondent - dispose of this appeal ex-arte =qua – Held that - if donations are received compulsorily for the admission of students, by whatever name it may be called, i.e. donation, building fund, auditorium fund, etc. over and above the prescribed fee, from the students, the assessee would not be entitled for exemption either under S.10(23C) or under S.11 of the Act. In consonance with the consistent view of the Tribunal in similar matters, we set aside the impugned order of the CIT(A) and restore the matter to the file of the Assessing Officer for fresh examination of the matter in relation to the issue in dispute. The Assessing Officer is accordingly directed to verify in respect of each asset on which depreciation is claimed, as to 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. The Assessing Officer shall accordingly redecide the issue in accordance with law and after giving reasonable opportunity of hearing to the assessee.
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