12AA Correctness of decision of Hon'ble Uttra Khand High Court

[brett_lee38]

Hon'ble Uttra Khand High Court in the case of CITVs National Institue of Areonautical(available of Taxindia Online) case has held that if there is an element of Commercialism in the activity of the institue then 12AA can not be granted to such institue. Their lordhship have referred to the proviso inserted by Finance Act 2008 w.e.f 1.04.2009.  However their lordships have failed to considered the Circular No 11 of 19.12.2009 of the board since no one has broguht this circular  of  to their notice wherein it has been clarified that the provision of proviso could not be applied to the Education Instiututes