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2013 (7) TMI 456 - HC - Income TaxExemption u/s 10(23C)(iv) - Assessee society running co-education degree college - CIT rejected claiming that society has not been formed with the sole object of imparting education, but its memorandum of association reflects that it has other aims and objects as well - Held that:- society or a trust or other similar body running educational institutions solely for educational purposes and having the overall object of not to make any profit can be regarded as "other educational institution" even if some surplus arises from its activities - Following decision of Aditanar Educational Institution v. Additional CIT [1997 (2) TMI 3 - SUPREME Court] - Decided in favour of Assessee. whether an application can be rejected on the ground that the memorandum of association of the society provides for various other objects apart from educational activities - Held that:- petitioner was a society which had made an application for approval u/s.10(23C)(vi) and its application for approval was rejected on the ground that benefit of section 10(23C)(vi) is available only to an educational institution existing solely for the purpose of imparting education, while the application has been made by a society having many activities that appear to be other than educational such as to make appropriate efforts for upliftment of public in social and cultural field etc. Therein, this court had held that even though the aims and objects of the society may contain several objects but if it has been proved by material on record that the society is not perusing any other activity apart from eduction then in such case, the society will qualify for grant of approval u/s. 10(23C)(vi) - Following decision of C.P. Vidya Niketan Inter College Shikshan Society vs. Union of India and others [2013 (7) TMI 367 - ALLAHABAD HIGH COURT] - Decided in favour of Assessee.
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