2006 (12) TMI 75

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.... the Trust for purposes that are not in consonance with the objects of the Trust, is not the assessing officer right in denying exemption to the assessee under section 10(22) of the Income Tax Act ?" 2. The Revenue is the appellant.  The relevant assessment years are 1996-97 and 1997-98. The assessee is a public charitable trust, which runs three educational institutions and a medical centre.  They claimed exemption under Section 10(22) of the Income Tax Act for three assessment years, viz., 1995-96, 1996-97 and 1997-98.  For the assessment year 1996-97, the assessee filed a return on February 5, 1997 declaring excess of expenditure over income of Rs.1,05,25,645/-.  Since the similar expenditure was disallowed for the a....

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....he said purpose, it is not necessary to consider the assessee's claim for deduction under Section 11 of the Act. Against the said order of the Commissioner, the Revenue went on appeal and the Tribunal, by order dated March 8, 2006, confirmed the order of the Commissioner taking note of its earlier order dated January 5, 2004 in the assessee's own case for the assessment year 1998-99, wherein it was held that since the assessee trust had been maintaining separate statement of accounts for educational and charitable activities and were not mingled with both activities and as such, the assessee trust being carrying on the activity of educational purposes, it is entitled for exemption under Sections 10(22), 10(22A) and 10(23C) of the Act and in....

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.... apply to the institutions seeking exemption under section 11 of the Act."                                                                                                   (sd.)……………………………….         &n....