https://www.taxtmi.com/caselaws?id=254455 The Tribunal held that 'The Serampore College' is the assessable entity for income tax purposes, with the Senate of Serampore College considered a constituent unit. The AO was directed to assess 'The Serampore College' as the sole taxable entity, consolidating all unit accounts. Regarding exemption under Section 10(23C)(iiiab), the Tribunal instructed the AO to evaluate if 'The Serampore College' is substantially financed by the government to qualify for exemption. The cases were remanded to the AO for reassessment, allowing the appeals for statistical purposes. en-us Tue, 14 Oct 2014 00:00:00 +0530 Tue, 23 Dec 2014 06:20:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254455 The Tribunal held that 'The Serampore College' is the assessable entity for income tax purposes, with the Senate of Serampore College considered a constituent unit. The AO was directed to assess 'The Serampore College' as the sole taxable entity, consolidating all unit accounts. Regarding exemption under Section 10(23C)(iiiab), the Tribunal instructed the AO to evaluate if 'The Serampore College' is substantially financed by the government to qualify for exemption. The cases were remanded to the AO for reassessment, allowing the appeals for statistical purposes. Case-Laws Income Tax Tue, 14 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254455