2012 (9) TMI 981

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....ow. 3. Briefly, the facts of the case are that the assessee is registered society, running an institution in the name of Swami Atmdev Gopalanand Inter College, Ugarpur and also running a residential primary school of Scheduled Caste and a residential school for handicapped and girls' boarding hostel. The return was filed at nil income. The AO has mentioned that all the assertions made by the assessee including the fact that it is backed by the Government Funds and is, therefore, claiming exemption u/s. 10(23C)(iiiab) of the IT Act. Although, claim of exemption under the above provision was not challenged by the AO, but he has made certain additions on account of unproved grant, unsecured loans and unproved donations. The assessee challen....

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....hat the assessee is entitled for exemption u/s. 10(23C)(iiiab) of the IT Act. The ld. CIT(A) also considering the aims and objects of the assessee found that the assessee has been imparting education and was existing solely for the educational purpose and the activities of the assessee were funded by the government, apart from donations etc. These findings have not been disputed that the assessee is entitled for exemption u/s. 10(23C)(iiiab) of the IT Act. Before proceeding further on merits, we note that the relevant provision of section 10(23C)(iiiab) provides "In computing the total income of the previous year of any person, any income falling within any of the following clauses shall not be included in income received by any pe....