Supreme Court of India
American Hotel & Lodging Assn. Edu. Ins. v. Central Board of Direct Taxes & Ors.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
3 Supreme Court benches have cited this judgment.
What the Court ordered
We are of the view that the Monitoring Conditions in the third proviso like application/utilization of income, pattern of investments to be made etc. could be stipulated as conditions by the PA sub- H 146 SUPREME COURT REPORTS [2008] 8 S.C.R. A ject to which approval could be granted.
Judgment, page 29
From the headnote
Income Tax Act, 1961- s. 10 (23 ) (vi) and its third pro- visa (as inserted by Finance Act, 1998) - Tax exemption - To assessee as an educational institution - Granted prior to Fi- c nance Act, 1998 - Thereafter application for seeking initial approval in terms of s. 10 (23 ) (vi) rejected by Prescribed Authority- Propriety of- Held: By introduction of third proviso to the Section, Prescribed Authority could stipulate monitor- t ing conditions before grant of initial approval for the first time - But in the cases where the applicant had earlier obtained exemption, tha approval cannot be
Where later benches applied it
- 2016 Visvesvaraya Technological University v. Assistant Commissioner of Income Tax
- 2022 Assistant Commissioner of Income Tax (exemptions) v. Ahmedabad Urban Development Authority
- 2022 M/s New Noble Educational Society v. The Chief Commissioner of Income Tax 1 and Anr.
Of those, 1 relied on · 1 referred to · 1 partly overruled
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