TMI Blog2000 (2) TMI 77X X X X Extracts X X X X X X X X Extracts X X X X ..... following questions have been referred to this court for opinion under section 256(1) of the Income-tax Act, 1961 (in short "the Act'), by the Income-tax Appellate Tribunal, Cochin Bench (in short "the Tribunal"). "1. Whether, on the facts and in the circumstances of the case does the assessee come within the true ambit of 'other educational institutions' in section 10(22) of the Income-tax Act ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in Literary Scientific and Charitable Societies Act, 1955 (in short "the Societies Act"). No return was filed by it voluntarily. Proceedings under section 147 of the Act were initiated for both the years. Returns were filed claiming that the income, if any, was exempt under section 10(22) of the Act. The Assessing Officer held that the exemption was not available because the assessee seems to have ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e said to be a case of diversion of income and there was no motive to earn profit. Except making payment of salary, no amount was utilised for any purpose other than for the objects of the institution. The assessee is an educational institution and, therefore, was clearly covered by section 10(22) of the Act. Learned counsel for the Revenue with reference to the memorandum of association of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ociety and no portion thereof shall be paid or transferred to the members of the society, provided that nothing herein contained shall prevent the payment of remuneration or salary to any one for service rendered or for any work done to or for and on behalf of the society." Rules and Regulations : "Clause 25(5) : The funds shall be spent only to the attainment of the objects of the society and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sion, Sole Trustee's case [1975] 101 ITR 234 (SC), as highlighted by the Revenue has not been examined. As factual aspects have not been considered, we think it appropriate to direct the Tribunal to re-examine the matter after taking into account the materials already on record and to be produced by the parties, if any. Since the matter is being remanded for fresh hearing any observations made by ..... X X X X Extracts X X X X X X X X Extracts X X X X
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