Case Law Details
Process-cum-Product Development Centre Vs ACIT (ITAT Delhi)
Conclusion: Where assessee-society engaged only in imparting research based education/allowable skill training to students in manufacturing of sports goods and leisure equipments without any profit motive to enable them to get placement, it would cover within the definition of education u/s 2(15) and hence, entitled for exemption under section 10(23C)(iiiab).
Held: AO denied exemption under section 10(23C)(iiib) to assessee-society on the ground that it was not running an institution to provide systematic education. It was held assessee society, substantially financed by the Government of India, was engaged only in imparting research based education/ skill training to the students in manufacturing of sports goods and leisure equipments without any profit motive, to enable them to get placement fell within the definition of education u/s 2(15), hence entitled for exemption under section 10(23C)(iiiab)
FULL TEXT OF THE ITAT JUDGEMENT
Since common questions of facts and law have been raised in the aforesaid appeals, the same are being disposed off by way of consolidated order to avoid repetition of discussion.
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