Itta/655/2015 Of The Director Of Income-Tax, (Exemptions) v. Loyola Academy Society

THE HON’BLE SRI JUSTICE RAMESH RANGANATHANANDTHE HON’BLE SRI JUSTICE M.SATYANARAYANA MURTHY ITTA.No.655 of 2015 JUDGMENT:(Per the Hon’ble Sri Justice Ramesh Ranganathan) Sri J.V.Prasad, learned Senior Standing Counsel for IncomeTax, would submit that the question of law, which arises forconsideration in this appeal, is whether the assessee is entitled toclaim exemption under Section 11 of the Income Tax Act, 1961 (forshort “the Act”) even though they did not obtain notification underSection 10(23C)(vi) of the Act. An identical question of law fell for consideration inI.T.T.A.No.635 of 2015 and this Court, by its order dated 13.07.2016,held that Sections 11 and 10(23C)(vi) of the Act operate parallelly,even thought the criteria prescribed overlap to a certain extent; andfailure to obtain approval under Section 10(23C)(vi) of the Act does notdisentitle the assessee from claiming exemption under Section 11 ofthe Act.Following the order passed in ITTA.No.635 of 2015 dated13.07.2016, this appeal must be, and is accordingly, dismissed interms thereof. Miscellaneous petitions pending, if any, shall also standdismissed. There shall be no order as to costs. ______________________________ (RAMESH RANGANATHAN, J) ___________________________________ (M.SATYANARAYANA MURTHY, J) 13[th] July 2016JSU THE HON’BLE SRI JUSTICE RAMESH RANGANATHANAND THE HON’BLE SRI JUSTICE M.SATYANARAYANA MURTHY JSU ITTA.No.655 of 2015 Date: 13.07.2016