SRI RAMACHANDRA EDUCATIONAL AND HEALTH TRUST Vs. CIT

JUDGEMENT

(1.) 1. In this application under Section 245Q(1) of the Income-tax Act, 1961 (for short 'the Act'), the applicant is a tax resident of India . It seeks advance ruling of the Authority on the following question:

(2.) The applicant is a health and educational trust established in 1985. It runs institution to conduct medical courses. It enjoys the status of Deemed University under the provisions of the University Grants Commission Act, 1956. With a view to provide quality education in medical courses it entered into an agreement with Harvard Medical International for transfer of knowledge on a contract basis. The income of the Trust is granted exemption as it is registered under Section 12AA of the Act. It is stated that Harvard Medical International is also recognised as a tax-exempt entity under Section 501(c) (3) of the Internal Revenue Code, USA from 1994.