Dismissing the appeal of the Revenue the Court held\u00a0 that since the Assessing Officer in his order had reached the conclusion that the assessee had claimed exemptions under section\u00a010(23C)(iiiab)\u00a0since it was substantially financed by the Government of more than 20 per cent., and expenditure had been incurred by the assessee towards its aims and objects in carrying out educational activities alone, the exemptions were rightly granted. The Tribunal had found that rule\u00a02BBB\u00a0of the\u00a0Income-tax Rules, 1962\u00a0was not applicable during the assessment year 2012-13, since it came into force with effect from December 12, 2014. There was no error in the orders passed by the Tribunal and the Assessing Officer and, therefore, need not be interfered with. No substantial question of law. (AY.2012-13)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 10 (23C): Educational institution-Solely for educational purposes and not for profit-Substantial grant of finance from Government-Order of Tribunal is affirmed.[S. 10(23C)(iiib), 11, 260A, R. 2BBBB.] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-47589","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-cnz","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/47589","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=47589"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/47589\/revisions"}],"predecessor-version":[{"id":47590,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/47589\/revisions\/47590"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=47589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=47589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=47589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}