Where receipts of assessee-society from two institution managed and run by it exceeded Rs. 1 crore

IT: Where receipts of assessee-society from two institution managed and run by it exceeded Rs. 1 crore, in absence of exemption certificate under section 10(23C), receipt exceeding over Rs. 1 crore was rightly brought to tax
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[2014] 48 taxmann.com 386 (Amritsar - Trib.)
IN THE ITAT AMRITSAR BENCH
Income-Tax Officer
v.
Vivekanand Society of Education and Research*
H.S. SIDHU, JUDICIAL MEMBER
AND B.P. JAIN, ACCOUNTANT MEMBER
IT APPEAL NO. 305 (ASR.) OF 2010
[ASSESSMENT YEAR 2005-06]
FEBRUARY  13, 2014
Section 10(23C) of the Income-tax Act, 1961 - Educational - Institutions - Assessment year 2005-06 - Whether as and when gross receipt of society exceeds Rs. 1 crore, such society requires approval from prescribed authority for exemption of its income under section 10(23C)(iiiad) - Held, yes - Whether where receipts of assessee-society from two institution managed and run by it exceeded Rs. 1 crore, in absence of exemption certificate under section 10(23C), receipt exceeding over Rs. 1 crore was rightly brought to tax - Held, yes [Paras 10 & 13] [In favour of revenue]