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        Case ID :
        Income Tax

        ITAT allowed the appeal and directed the AO to grant exemption...

        University eligible for tax exemption under Section 10(23C)(iiiab) with substantial government financing threshold met

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                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.
                                ITAT allowed the appeal and directed the AO to grant exemption u/s 10(23C)(iiiab) to the university established by State Legislature Act. The Tribunal held that government financing constitutes "substantial financing" based on judicial precedents establishing thresholds: Karnataka HC determined 37.85% financing qualifies as substantial in one case and 25% in another, while Punjab & Haryana HC concurred with 44.52% threshold. Following these precedents, ITAT concluded the assessee was substantially financed by government and eligible for the claimed deduction. The denial of exemption was overturned, with AO directed to allow the benefit under the relevant provision.
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