SOUTHERN INDIA BANKS Vs. INCOME-TAX OFFICER

JUDGEMENT

(1.) This appeal has been admitted to consider the following question of law:

(2.) Heard Shri. S. Parthasarathi, learned Advocate for assessee and Shri. K.V. Aravind, learned Advocate for the Revenue.

(3.) Brief facts of the case are, assessee, a Staff Training College submitted an application seeking exemption under Sec. 10(23C)(vi) of the Income Tax Act, 1961 ('Act' for short) for the A.Y. 2014-15. The Chief Commissioner of Income Tax, Bengaluru rejected the application. Assessee challenged the said order in ITA No.1408(Bang)2015. The ITAT[Income Tax Appellate Tribunal], by the impugned order has dismissed the appeal.