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2013 (7) TMI 803 - AT - Income TaxEligibility for exemption u/s 10(23C) (iiiab) - assessee is a society registered under Societies Registration Act - as per assessee the exemption is available being an educational institution which is solely and substantially financed by the Government - CIT(A) allowed the claim - Held that:- The issue is covered by the decision of Vasavi Academy of Education Hyderabad [2010 (2) TMI 970 - ITAT HYDERABAD] wherein remit was remitted back to the file of AO with a direction to reconsider the entire issue in the light of judgement of M/s Islamic Academy of Education & Another Vs. State of Karnataka and Another (2003 (8) TMI 469 - SUPREME COURT) and T.M.A. Pai Foundation and Others Vs. State of Karnataka and Others (2002 (10) TMI 739 - SUPREME COURT) to find out whether the assessee has received any money over and above the fees prescribed and thereafter decide the issue afresh in accordance with law after giving reasonable opportunity of hearing to the assessee . The assessee is not entitled for exemption either u/s 11 or u/s 10(23C) in case it collected any money by whatever name it is called i.e., donation, building fund, auditorium fund etc. etc., over and above the prescribed fee for admission of students. Thus set aside the issue to the file of the AO for a fresh decision in accordance with law, after affording a reasonable opportunity of being heard to the assessee. Revenue is partly allowed for statistical purposes.
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