2015 (5) TMI 219

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....UMAR AND MR. B. VEERAPPA, JJ. FOR THE APPELLANT : SRI K.V. ARAVIND, ADVOCATE FOR THE RESPONDENT : SRI G. SARANGAN SENIOR COUNSEL FOR SRI BALARAM R. RAO ORDER N. Kumar J.- The Revenue has preferred these appeals against the order passed by the Tribunal dismissing the appeal filed by the Revenue and allowing the appeal filed by the assessee and granting relief to the assessee. The imp....

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....eals). The Appellate Commissioner set aside the order of the assessing authority refusing the grant under section 11 of the Act and granted the relief to the assessee but he declined to grant the relief under section 10(23C)(iiiab) of the Act. 4. Aggrieved by the said order, both the assessee as well as the Revenue preferred two appeals each. The Tribunal by its impugned order has set aside the....

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....ng education. It is not existing for the sake of profit-making. When 25 per cent. of the finance to the assessee-institutions flows from the Government it constitutes the substantial finance and, therefore, it has satisfied all the legal requirements provided under section 10(23C)(iiiab) of the Act. In fact, this court had an occasion to consider the said question in the case of CIT v. Indian Inst....