2010 (5) TMI 883

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....cate O R D E R PER JOGINDER SINGH, JM This appeal is by the revenue against the order of the learned CIT(A) dated 15th July, 2009 on the ground that the learned Commissioner of Income Tax (Appeals) has erred in cancelling the order u/s 201(1) which was rightly passed by the Assessing Officer for failure to deduct TDS on the interest accrued on fixed deposit which was mandatory for the Man....

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....that proceedings initiated u/s 148 in the case of M.P. Bhoj (Open) University, Bhopal, were dropped on the ground that they are exempt from tax u/s 10(23C)(iiiab) of the Act 3. We have considered the rival submissions of ld. representatives of both sides and perused the material available on record. Brief facts are that the learned Assessing Officer raised a demand of Rs. 14,28,530/- for the fi....

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....x xx xx (iiiab) any university or other educational institution^35 existing ^35 solely^35 for educational purposes and not for purposes of profit, and which is wholly or substantially financed by the Government " Admittedly, M.P. Bhoj (Open) University, Bhopal, is a University and the proceedings initiated u/s 148 were also dropped by the department as the income of the University, bei....