TaxTMI 
TaxTMI 
2016 (10) TMI 593
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....in declining to grant exemption u/s 10(23C)(vi) of the IT Act, to the appellant. 2. The order of the ld. CCIT is opposed to law in that various submissions made by the appellant supported by case law cited have not been considered and accordingly the order passed is liable to be set aside, as opposed to the principles of natural justice. 3. The ld. CCIT erred in holding that the appellant institution as not only solely for educational purposes without appreciating that the various activities carried on by the appellant were towards educational purposes of the banking staff and consequently, the appellant had fulfilled all the conditions required u/s 10(2C) (vi) of the Act to avail the exemption as provided therein. 4. The ld. CCIT ....
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....f the Act. Regarding various judgments cited by the ld. AR of the assessee, he submitted that these judgments are not applicable in the present case. 5. We have considered the rival submissions. 6. First of all, we reproduce the relevant portion of the order of the ld. CCIT from page no.2 & 3 of his order. The same is as under:- "It is seen from the Memorandum of Association that the objects of the society are as under: (a) To establish and to carryon the administration and management of Southern India Bank's Staff Training College (b) To plan, promote and provide for education and training in operations and management of banking to undertake, organize and facilitate conferences, seminars, study courses, lectures and simi....
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.... (j)To establish and maintain regional centres to promote the objects of the society. (k) To institute and award scholarships, prizes and medals in accordance with the rules. (I) To maintain close contact with other institutions having similar objectives, either wholly or partially, by way of payment of subscription enrolment. as a member thereof, fiscal Or other sorts of assistance, amalgamation, Collaboration, co-operation and in any other ay as the society may deem (m) To establish, maintain and manage halls and hostels for accommodation of the trainees. (n) To do all lawful things as the society may deem fit for attainment of all or any of the objects. Section 10(23c)(vi) provides that 'any income received by any perso....
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....above, the assessee society will assist banking institution in matters such as appraisal programmes, conducting morale and productivity studies, streamlining organizational structure and to review from time to time, the impact of educational training and research activities and offer suggestions for filing the gaps in the banking system. As for clause-G, which is also reproduced above, the assessee society has to provide consultancy services under its auspices or through its faculty to banks or any other institutions or individuals on matters having a bearing on production in Banking services, optimum use of financial resources or any other matter conducive to economic betterment. This is the objections of the ld. CCIT that these two object....
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....t assessment year and under these facts and circumstances of the case, no fault can be found with the finding recorded by the Tribunal. In the present case, even the so called educational objects itself include rendering of consultancy services to banks and this is not the case of the assessee that in the relevant assessment year, no such activity was undertaken by the assessee society. Therefore, this judgment of the Hon'ble Bombay High Court is not rendering any help to the assessee in the present case. 9. The second judgment on which reliance has been placed by the ld. AR of the assessee is the judgment of the Hon'ble Apex Court rendered in the case of CCIT Vs St. Peter's Educational Society(Supra). In this case, it was not the disput....
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.... in the reply stating that the company had about 30 acres of land and what it was doing was only by way of kitchen gardening and to educate the pupils in that behalf and even the gardening was being carried on in between the buildings and only in a small way. Hence, it is seen that in that case, although some objections were raised by the department regarding the objects of the assessee being education, but these objections of the department were adequately rebutted by the assessee. In the present case, the objections of the revenue that clause-D & G of the objects clause are not for educational purposes could not be rebutted by the assessee to the satisfaction of the department or to our satisfaction. Hence, under these facts, this judgmen....