upholding the action of the
assessing officer in treating the scholarship given to Ms.
Aarti Rai, asbeing in violation of provisions ... mentioned the name of persons who had been
extended similar scholarship facilities.
3.2 That the Commissioner of Income Tax (Appeals)
erred on facts
them under the law whether claimed or not. The scholarship clearly fell under section 10(16) and, therefore, the Commissioner(Appeals) was right in allowing ... years.
Income Tax Act 1961 s.251
Exemption under s. 10(16) --SCHOLARSHIP--Received from a foreign institution.
Ratio :
Scholarship received from a foreign institution
income of the Appellant by treating expense
incurred under the head "Scholarship Expenses" as
having not been incurred wholly and exclusively ... aforesaid amount of Rs.99,84,863/-, incurred on account of
scholarship granted to further the professional interest of the
Appellant, terming the same
erred in holding that the benefit of scholarships for UG-PG
were applied for a particular religious community violating Explanation (d)
to section 12AB ... Foundation vs. DCIT(E )
filed by the Appellant with respect to the scholarships awarded to students
from other religious community, and in holding that such
assessee now canvased is that appellant in the process of providing
scholarships to its students had entered into a memorandum of understanding
with Sad-Bhawna ... appellant was under an obligation to utilize conditional grants
towards providing scholarships in the programme fee, to only the financially
week and meritorious students, without
noticed that the
foundation was involved in charitable activity by giving scholarship, financial
assistance and seminar for poor and needy people/students or children ... assessee trust submitted year wise details of
scholarship/financial assistance with name, address, amount, father's name,
monthly income and name of father
learned CIT - A grossly erred in holding that the expenditure on
scholarship amounting to Rs. 2845372/- was incurred to bring
into existence and advantage ... capital
expenditure instead of disallowance of the same as gift
(scholarship) expenses not wholly and exclusively act that in
related to the profession
Jain Scholarship Fund , Meerut vs Assessee
IN THE INCOME TAX APPELLATE TRIBUNAL
(DELHI BENCH `D' : NEW DELHI)
BEFORE SHRI U.B.S. BEDI, JUDICIAL ... 5294/Del./2011
(Assessment Year : N.A.)
M/s Jain Scholarship Fund, Vs. CIT, Meerut.
99, Mansarover (Street No.1),
Civil Lines, Meerut City
assessee has claimed Rs. 19,53,500/-
under the head 'Scholarship Expenses'. The assessee was asked to
explain why the Scholarship debited ... assessee.
5. In his reply, the assessee submitted copy of agreement of
Scholarship.
3
6. On perusal of the agreement, the Assessing Officer
backward areas particularly from the Chindwara district of M P. TCS
offered scholarship for NIIT foundation students in that region. For that
purpose, the memorandum ... into. He further
referred to clause 2 of that agreement which has scholarship objective and
stated that 20,000 per annum per student was provided
