TMI Blog2003 (12) TMI 51X X X X Extracts X X X X X X X X Extracts X X X X ..... eal is as to whether the assessee, who is only providing financial assistance to educational institutions is entitled to the benefit of section 10(22) - In the present case, exemption under section 10(22) of the Act was disallowed to the assessee only on the ground that it was merely providing financial assistance to educational institutions like Lady Sri Ram College for Women, Sriram College of C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... circumstances of the case, the learned Income-tax Appellate Tribunal has erred in allowing benefit of section 10(22) of the Income-tax Act, 1961, even though it is not an educational institution but merely providing financial assistance?" As is evident from the format of the question, the only issue arising for consideration in this appeal is as to whether the assessee, who is only providing fin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ions solely for educational purposes and in that regard to raise or collect funds, donations, gifts, etc. Colleges and schools are the media through which the assessee imparts education and effectuates its objects. In substance and reality, the sole purpose for which the assessee has come into existence is to impart education at the levels of colleges and schools and so, such an educational societ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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