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2016 (3) TMI 1066 - ITAT CHENNAIEntitlement to exemption u/s.10(23C)(vi) - Held that:- Merely because the Assessee School does not have power to purchase, acquire, or sell the property, does not mean that the school will cease to exist as an Institution. Thus the ‘STATUS’ of the Assessee could be A.O.P. in the absence of any Memorandum of Association or Trust Deed. Considering the above decision of the I.T.A.T.Delhi Bench, in the present case also the above Matriculation School which is managed by Education Board and granted permission by the Director of School Education as early as 07.10.1997 is an “Institution” qualifying for exemption U/s. 10(23C)(vi) of the I.T.Act. Hence the exemption sough for the above “Institution” is to be granted. Accordingly, we direct the CCIT to grant exemption u/s.10(23C)(vi) of the Act. - Decided in favour of assessee.
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