Assessee, an educational institution, was registered under S. 12AA which was allowed exemption under S. 10(23C)(vi) and S.11 for AY. 1999-2000 to 2001-02. AO denied exemption for the AY. 2002-3, 2003-04). CIT (A) allowed the exemption which was affirmed by the Tribunal . High Court also up held the order of the Tribunal . ( AY. 2002-03, 2003-04)
CIT v. Takshila Education Society (2019) 264 Taxman 72/ 178 DTR 182 (Patna)(HC)
S. 11 : Property held for charitable purposes-Educational Institution-Res judicata-Denial of exemption is held to be not justified. [S. 10(23C)(vi), 12AA]