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2016 (2) TMI 803
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.... JUDGMENT This appeal is directed against the order passed by the learned Single Judge in Writ Petition No.42179/2012 dated 13.03.2013 whereby the writ petition filed by the appellant is rejected. Appellant's application in Form No.56D dated 26.09.2011 seeking for an exemption under section 10(23C)(vi) of the Income Tax Act, 1961 (the 'Act' for short) was rejected by the respondent vid....
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....der section 10(23C) (iiiad) of IT Act for the reason that the annual receipt of the society was less than the prescribed limit i.e., One Crore. 4. It is submitted that in the rules and regulation of the society it is stated that " Donation may also be collected from the pupils and the same shall be decided by the Executive Committee from time to time". However, the Appellant society has n....
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.... 13(1)(d) read with from time to time. 2..... 3..... 4. Dissolution Clause: In the event of dissolution or winding up the Trust/Society, the assets remaining as on the date of the dissolution shall under no circumstance be distributed among the trustees/members of the managing committee/governing body but the same shall be transferred to the another charitable trust/Soci....
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....ds." 3. In view of the said explanation offered by the appellant and considering the scope of an enquiry by the prescribed authority for grant of approval under Section 10(23C)(vi) of the Act as explained by the Apex Court in American Hotel & Lodging Assn. Educational Institute vs CBDT ((2008)10 SCC 509), we are of the opinion that the matter requires reconsideration by the respondent. 4. Ac....