Exemption u/s. 11/12 granted based on proviso to section 12A(2)

Advertisement Shree Shantanu Vidhyapeeth Society Vs ITO (ITAT Indore) ITAT Indore held that Proviso to section 12A(2) was very much available for AY 2018-19. Thus, the assessee is eligible to exemption u/s 11/12 on the basis of Proviso to section 12A(2). Accordingly, appeal is allowed. Facts- The assessee is a society registered in the State of Madhya Pradesh, engaged in charitable purpose of advancing education through a school named “Oxford Academy School” and a college named “Oxford International College”. For AY 2018-19 under consideration, the assessee filed its return of inc...