Held that where assessee-educational institution was approved under section 10(23C)(vi), no disallowance could have been made by applying provisions of sections 11 and 12.  Grant in aide  funds could be spent for specified purposes only on specific approval of State Government, same were grant-in-aid which could not be considered as assessee’s income and thus, same would be exempt from tax. When assessee-educational institution had not claimed cost incurred on acquisition of fixed assets as application of income, order disallowing depreciation as application of income is  deleted.  (AY. 2015-16)