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2018 (9) TMI 1400 - AT - Income TaxDenial of exemption claimed u/s 10(23C)(iiiab) - income received on behalf of educational institution being run by it solely for educational purposes and not for profit and which is substantially financed by the Government - Held that:- Lower authorities have not examined this aspect. It is the claim of the assessee that separate books of account are being maintained in respect of educational institution run by it and that it is substantially financed by the Government and is not run for profit. The matter requires to be remanded back to the file of the Assessing officer to correctly apply the provisions of section 10(23C)(iiiab) and to examine and verify whether the educational institution run by the assessee, irrespective of the other activity of running of the hotel of the assessee, is run solely for educational purposes and not for profit and whether the said institution is substantially financed by the Government - Decided in favour of assessee for statistical purposes.
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