2025 (4) TMI 1808

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.... Lalchandani, Adv Shri Tarun Chanana, Adv Mr. Shivam Yadav, Adv Ms. Ananya Kapoor, Adv For the Revenue: Shri Amar Pal Singh, Sr. DR ORDER PER M. BALAGANESH, A. M.: 1. The appeal in ITA No. 4092/DDN/2024 for AY 2011-12, arises out of the order of the Director General of Income Tax (Investigation), Lucknow dated 26.03.2015 [hereinafter referred to as 'ld. CIT(E)', in short] dated 26.03.2....

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....mitted in the light of decision of Hon'ble Supreme Court in the case of NTPC limited reported in 229 ITR 383 (SC). 3. We have heard the rival submissions and perused the materials available on record. It is not in dispute that assessee is existing solely for educational purposes and not for the purpose of profit. The assessee has been granted approval under Section 10(23C)(vi) of the Act vide o....

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....rseded by Notification No. 20/2015 dated 5-3-2015 becomes relevant. For the sake of convenience, the said notification is reproduced below:- "SECTION 10(23C)(vi)/(via) OF THE INCOME-TAX ACT, 1961 - EXEMPTION - UNIVERSITY/EDUCATIONAL INSTITUTIONS/HOSPITALS - PRESCRIBED AUTHORITY - SUPERSESSION OF NOTIFICATION NO. SO 852(E)[F. No. 153/41/2007-TPL], DATED 30-5-2007 NOTIFICATION N....

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....ions), to act as 'prescribed authority' for the purposes of sub-clause (vi) and sub-clause (via) of clause (23C) of section 10 with effect from the 'specified date'. 2. The 'specified date' for the purpose of the aforesaid rule 2CA shall be the 15th day of November, 2014." 4. So, from the perusal of the aforesaid notification, it is very clear that the prescribe....