TMI Blog2014 (4) TMI 962X X X X Extracts X X X X X X X X Extracts X X X X ..... is not required to maintain separate books of accounts. The income of the coaching classes earned by the assessee institute is within its objects and its Regulations and further these activities are educational activity within the definition of section 2(15) of the Act – thus, there cannot be activity of business for which separate books of accounts are required to be maintained - The institute is an educational institute and its income will also be exempt u/s 11 as education falls within the meaning of charitable purpose u/s 2(15) of the Act - Revenue could not substantially controvert the proposition and has fairly agreed that the issue stands covered by the Tribunal order in favour of the assessee and against the revenue – thus, there ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n has been sued in section 2(15), is the systematic instruction, schooling or training given to young in preparation for the work of life. The word education has not been used in section 2(15), is the systematic instruction, schooling or training given to young in preparation for the work of life. The word education has not been used in that wide and extended sense according to which every acquisition of further knowledge constitutes education. 3. We have heard rival arguments of both the parties and carefully perused the record placed before us. During the arguments, assessee s representative submitted copies of the decisions of ITAT Delhi H Bench in assessee s own case i.e. ITA No. 1930/D/2011 dated 16.6.2011 for AY 2007-08, co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Trust vs Commissioner of Income Tax (1975) 101 ITR 234 (SC) wherein the Hon ble Apex Court has defined the word Education and observed that the meaning of the word Education has been defined and used in section 2(15) of the Act and as per this provision, the systematic instruction, schooling or training given to the young is preparation for the work of life is education. The DR further pointed out that the word education has not been used in that wide and extended sense and, accordingly, any other acquisition of further knowledge constitutes education. 5. Replying to the above, the AR pointed out para 4 to 8 of the order of ITAT H Bench in ITA No. 1930/D/2011 (supra) wherein dismissing the appeal of the revenue, it has been held ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ture Chartered Accountants, for which it has been enacted by the Parliament and further emphasizing that CBDT while granting Notification u/s 10(23C)(iv) of the Act to the appellant Institute was well aware about the component of its income reflected in Annual accounts filed with the application for applying for exemption of income u/s. 10(23C)(iv) of the Act consistently to the assessment year 2005-06, and therefore the objection of the Assessing Officer in this respect is misconceived, even on the Principle of Doctrine of Consistency enunciated by Hon ble Supreme Court in the case of Radhaswamy Satsang (cited supra). Pursing the Chartered Accountants regulations, annual accounts of the appellant Institute and written arguments of the Ld. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h the assessee has been established. Hence, ground no. 6 isallowed in favour of the appellant. The Ld. Commissioner of Income Tax (Appeals) further took note that Hon ble ITAT, Delhi Bench in ITA No. 1853/Del/2010 also held that: The institute as such merely it is receiving coaching fee from students for imparting education, cannot be said to have been carrying on the business and accordingly it is not required to maintain separate books of accounts as alleged by DIT(E). The income of the coaching classes earned by the assessee institute is within its objects and its regulations and further these activities are educational activity within the definition of section 2(15) of the Income Tax Act, 1961, and consequently therefore cannot ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t only u/s 10(23C)(iv) but also under section 11. The institute is an educational institute and hence its income will also be exempt under section 11 as education falls within the meaning of charitable purpose under section 2(15) of the Act. 7. In light of the above, ld. counsel of the assessee contended that this issue stands covered in favour of the assessee by the decision of this tribunal as above. 7.1 Ld. Departmental Representative could not controvert this proposition. He fairly agreed that this issue stands covered by the said tribunal order. 8. Accordingly, in the background of the aforesaid discussion and precedent, we do not find any infirmity or illegality in the order of the Ld. Commissioner of Income Tax (Appeals), h ..... X X X X Extracts X X X X X X X X Extracts X X X X
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