Exemption u/s 11 and 12 duly available in absence of violation of KEI (Prohibition of Capitation Fee) Act

PCIT Vs Rashtreeya Sikshana Samithi Trust (Karnataka High Court) Karnataka High Court held that AO based on incorrect assumption treated the money collected by the trust as capitation fee under the KEI (Prohibition of Capitation Fee) Act. In absence of any violation of KEI (Prohibition of Capitation Fee) Act, exemption u/s 11 and 12 of the Income Tax Act duly available. Facts- The assessee is a charitable trust registered u/s. 12A of the Income Tax Act, 1961. It has obtained approval u/s. 11 and 12 of the Act. For A.Y.2012-13, assessee filed returns of income declaring income as nil. The case ...