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2013 (7) TMI 728 - AT - Income TaxExemption u/s 10(23C) - Whether the CIT(A) has erred in allowing exemption under section 10(23C) even when a number of other objects are included in it object clause and section 12A was not available for A.Y. 2009-10 – Held that:- The CIT(A) after considering the material found that the assessee society exists solely for education purposes - they had also considered a resolution passed by the assessee trust wherein the alleged clause were dropped from the Memorandum of society – the society has also given in writing that society has not used any part of the building and/or funds of the society on the activities - CIT(A) categorically held that the assessee society exists for educational activities - Revenue has failed to point out any contrary material to the finding of the CIT(A) - the other conditions for exemption u/s 10(23C) have been complied with by the assessee trust - there was not find any informality in the order of CIT(A). Validity of donations- Whether the CIT (A) erred in treating all donations as explained and for corpus even identity of donors were not established - Court set aside the orders of Revenue authorities and contention of the assessee is allowed that if any addition is sustained, the assessee is entitled to benefit of Section 11/10(23C) - Court relied upon the judgement of Director of Income Tax vs. Raunaq Education Foundation, (2007 (4) TMI 61 - HIGH court) – appeal decided against revenue.
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