INCOME TAX ACT, 1961

Section 10(23C)(iiiab)

Exemption under section 10(23C)(iiiab) - Allowability - State controlled educational committees/boards constituted to implement State educational policy whether educational institutions -

Issue was as regards denial of exemption under section 10(23C)(iiiab) alleging that assessee was neither a university nor an educational institution existing solely for educational purposes. Held: All State controlled educational committees/boards that have been constituted to implement the educational policy of the States have to be treated as educational institutions. Supreme Court in Assam State Text Book Production and Publication Corporation Ltd., held that assessee, which was constituted to implement educational policy of State, was to be treated as an educational institution and was consequently entitled to benefit of exemption under section 10(22). Following the same, appeal was decided in favour of assessee.

Followed:Assam State Text Book Production and Publication Corporation Ltd. v. CIT (2009) 319 ITR 317 (SC) : 2009 TaxPub(DT) 2091 (SC)

REFERRED :

FAVOUR : In assessee's favour

A.Y. : 2007-08

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