- (1.) Heard Sri Ashish Bansal, the learned counsel for the petitioner and Sri Shambhu Chopra, the learned counsel appearing for the Chief Commissioner of Income Tax.
(2.) The petitioner is a society registered under the Societies Registration Act, 1860 and is providing education by setting up centres for educational excellence and schools under the name and style of "The Sunbeam Academy Educational Society". Initially the Society was imparting education upto the 8th standard and the same was increased to 12th standard from the academic year 2003-04. Considering the aims and objects of the Society, the petitioner applied and was duly granted a registration under Section 12A of the Income Tax Act (hereinafter referred to as "the Act").
(3.) The Chief Commissioner of Income Tax, by an order dated 20.12.2007, granted approval under Section 10 (23C)(vi) of the Act after being satisfied that the educational institution was existing solely for educational purpose and not for the purpose of profit. This approval by the order dated 20.12.2007 was granted for the assessment year 2005-06 to 2007-08, i.e., for a period of three years.;