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1 - 10 of 27 (0.61 seconds)Section 12AA in The Income Tax Act, 1961 [Entire Act]
Section 12 in The Income Tax Act, 1961 [Entire Act]
Section 13 in The Income Tax Act, 1961 [Entire Act]
The Income Tax Act, 1961
Secondary Board Of Education vs Income-Tax Officer, Ward "E" on 5 January, 1972
In view of the above discussion and applying the judicial
pronouncements to the facts of the instant case vis-à-vis aims
and objects referred above, we hold that lower authorities were
not justified in declining claim of exemption to the assessee
Section 12A in The Income Tax Act, 1961 [Entire Act]
Commissioner Of Income-Tax vs Rajasthan State Text Book Board on 12 August, 1999
publishing and sale of text books and, consequently , it was
not entitled to the benefit of exemption u/s 10(22) of the Act.
However, the High Court noticed the letter issued by the CBDT
on 19th August, 1975, in the case of Tamil Nadu Text Book
Society, which, in similar circumstances, had granted
exemption to the Tamil Nadu Text Book Society as an
educational institution within the meaning of Section 10(22) of
the Act. The judgment of the High Court further recites that
under similar situation, the CBDT had also extended the
benefit of exemption u/s 10(22) of the Act to the Orissa
Secondary Board Education reported at 86 ITR 408. After
taking into account these circulars/letters issued by the
CBDT, Rajasthan High Court came to the conclusion that the
assessee in that case, namely, Rajasthan State Text Book
Board, was entitled to claim the benefit of exemption u/s
10(22) of the Act. The Court observed that it is not disputed
before us that the aims and objects of the Tamil Nadu Text
Books Society and those of the respondent-assessee are
almost identical.