You can probably "get away with" doing it that way (the result is the same). But, technically, you are suppose to generate form 5329 to claim the penalty exception. The "somebody not listed here" workaround accomplishes that because it has you enter the scholarship amount as a match to the expenses.
Based on your limited description of the situation ("withdrew scholarship amount"), entering the room & board amount, as well as tuition and books should reduce or eliminate the amount of earnings actually taxed.
