High Court
pertained to Section 10(23C)(iiiad) of the Act. The third proviso to
Section 10(23C)(vi) is not applicable to the cases ... Section 10(23C)(iiiad) . Secondly, the judgment rendered by the
Uttarkhand High Court runs contrary to the provisions of Section
10(23C)(vi
effect from 1st April, 1999, Section 10(22) of the Act was substituted by Section 10(23C)(vi) thereof. However, the substantive provision of Section ... 10(23C)(vi) remained the same as Section 10(22) of the Act. Section 10(23C)(vi) of the Act reads as follows:
10
Supreme Court as applicable to Section 10(22) would
equally apply to section 10(23C)(vi) of the Act.
4.7 While referring to the judgment ... been laid
down in Section 10(23C)(iiiad) . However, sub-clause (vi) of sub-section
(23C) of Section 10 contemplates that any university or educational
that such a precondition was absent in the provisos to
Section 10(23C) (vi) of the IT Act, and that since the tax statute ... namely (vi) and (via) were added. Sub-clause (vi) dealt with
education. At the same time, Parliament deleted Section 10 (22) and Section 10
clause (v) or sub-clause (vi) or sub-clause (via) of clause (23C) of section 10, within a period of twelve months from ... clause (v) or sub-clause (vi) or sub-clause (via) of clause (23C) of section 10, within the period specified in the said clause, shall
Petitioner had
been previously granted exemption under Section 10(22) or 10(23C)(vi) of
the Act, does not guarantee that the exemption will apply ... Section 10(23C) of the Act.
20. Before proceeding further it would be necessary to refer to the
provisions of Section 10(23C
benefit of the provisions of Section 10 (23C) . The third proviso to Section 10 (23C) would establish that Parliament did not regard the accumulation ... applicable to Section 10 (22) would equally apply to Section 10 (23C) . The Proviso, however, inserted in Section 10 (23C) (vi) requires the applicant
petitioner Trust under
Section 10(23C) of the Act as laid down in the
provisions of Section 10(23C) itself and if there are
other ... section 10(23C) .
11. It is also apparent that the Trust is not
satisfying essential condition for exemption u/s 10
(23C)(vi
10(22). To that
extent, the judgments of this court as applicable to section
10(22) would equally apply to section 10(23C)(vi ... application."
10. The Supreme Court has also clarified that the amended provisions of
Section 10(23C)(vi) are analogous to Section 10
assessee the income of the trust is exempt u/s.10(23C)(vi) of the I.T Act,
1961. In the return of income ... assessee trust had also applied for approval
for exemption u/s.10(23C)(vi
