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

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 file

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