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2015 (8) TMI 466 - HC - Income TaxEntitlement for exemption under Section 10(23C) (vi) - Held that:- It is an undisputed fact that the petitioner – University has been established under the provisions of the Universities Act, 2009, and accordingly, the same was included in the Schedule of the Universities Act, 23009 by publication in the Gujarat Government Gazette on 11.04.2012. We have perused the provisions of the Universities Act, 2009 as well as the First Statutes of the petitionerUniversity. Several aspects have been pleaded by both the sides with regard to the eligibility of the petitioner – University for getting exemption under Section 10 (23C) (vi) of the Act. However, we would like to deal with the present case at this stage only on the ground that the Chief Commissioner of Income Tax had no occasion to deal with the case of the petitioner in absence of sufficient materials i.e. final balancesheet showing income and expenditure account upto 31.03.2014 though the order has been passed on 20.10.2014. Chief Commissioner of IncomeTax, before passing the impugned order dated 20.10.2014, ought to have perused the relevant materials with regard to the income and expenditure of the University and ought not to have decided the case on the reasons assigned in the impugned order having insufficient materials to come to the conclusion that the University is established for earning profit from imparting education to the students. The respondents authorities ought to have perused the powers of the State Government under the Private Universities Act, 2009 while dealing with the case of a University established under the said Act. The respondents authority ought to have considered the powers of the State Government provided under Section 43 of the Universities Act, 2009. Section 43 of the Universities Act, 2009 empowers the State Government to take action against the Universities in certain circumstances. Thus the impugned order requires to be quashed and set aside only on the ground referred hereinabove and accordingly, quashed and set aside. The matter is remanded to the Chief Commissioner of IncomeTax for a fresh consideration with regard to the application dated 21.11.2013 submitted by the petitioner – University for grant of certificate under Section 10(23C)(vi) of the Act, after giving an opportunity of hearing to the petitioner - Decided in favour of assessee for statistical purposes.
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