2015 (11) TMI 1816

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.... Dr.U.Anjaneyulu, CIT DR ORDER Challa Nagendra Prasad,  This appeal is filed by the assessee against the order of the Chief Commissioner of Income Tax, Tiruchirappalli dated 10.08.2015 for the assessment year 2014-15 in denying exemption under section 10(23C)(vi) of the Act. 2. Counsel for the assessee submits that Chief Commissioner is not justified in rejecting the application f....

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....d by the Chief Commissioner. 4. Heard both sides. Perused the order of the Chief Commissioner. On a perusal of the object clauses of the trust deed, we find that the assessee is established not only for managing all types of educational institutions but also to promote finance, hospitals, research centers in medical science. On a perusal of the profit and loss account and income & expenditure a....