Friday, December 21, 2018

CIT was to renew sec. 10(23C) approval from year in which earlier approval has expired

IT: Where assessee temple was granted approval under section 10(23C)(v) in year 1989 and same was renewed from time to time till assessment year 2014-15 and, thereafter, Commissioner (Exemptions) granted fresh approval from assessment year 2016-17, since apprvoal was granted from 1989 and assessee was seeking only renewal of earlier approval, Commissioner (Exemptions) was unjustified in restricting approval from assessment year 2016-17 and approval ought to be renewed from assessment year 2015-1

from www.taxmann.com Latest Case Laws http://bit.ly/2EG6e4Y

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...