TMI Blog2015 (5) TMI 219X X X X Extracts X X X X X X X X Extracts X X X X ..... o the benefit under section 11 and, therefore, the Revenue's appeals were dismissed by Tribunal - Held that:- The material on record discloses that the Government has financed the institutions and their share is roughly about 25 per cent. It is not in dispute that the assessee is carrying on its activities of imparting education. It is not existing for the sake of profit-making. When 25 per ce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - Decided against revenue. - ITA Nos.232/2009, 237/2009, 251/2009 - - - Dated:- 16-1-2015 - MR. N.KUMAR AND MR. B. VEERAPPA, JJ. FOR THE APPELLANT : SRI K.V. ARAVIND, ADVOCATE FOR THE RESPONDENT : SRI G. SARANGAN SENIOR COUNSEL FOR SRI BALARAM R. RAO ORDER N. Kumar J.- The Revenue has preferred these appeals against the order passed by the Tribunal dismissing the appea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Act. 3. Aggrieved by the said order the assessee preferred an appeal to the Commissioner of Income-tax (Appeals). The Appellate Commissioner set aside the order of the assessing authority refusing the grant under section 11 of the Act and granted the relief to the assessee but he declined to grant the relief under section 10(23C)(iiiab) of the Act. 4. Aggrieved by the said order, both the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... are is roughly about 25 per cent. It is not in dispute that the assessee is carrying on its activities of imparting education. It is not existing for the sake of profit-making. When 25 per cent. of the finance to the assessee-institutions flows from the Government it constitutes the substantial finance and, therefore, it has satisfied all the legal requirements provided under section 10(23C)(iiiab ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Appeals are dismissed. Parties to bear their own costs. The question, whether once a benefit under section 10(23C)(iiiab) of the Act is granted, the grant of exemption under section 11 of the Act is attracted or not is not gone into. It shall be decided as and when occasion arises before the appropriate court. Therefore, the finding of the Tribunal to that extent is kept open to be agit ..... X X X X Extracts X X X X X X X X Extracts X X X X
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