Power to withdraw approval: tax approvals may be rescinded after opportunity to show cause and reasons recorded. Power to withdraw approval vests in the Central Government, the Board, or an income-tax authority empowered to grant approvals; they may withdraw such ... Summary
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Power to withdraw approval: tax approvals may be rescinded after opportunity to show cause and reasons recorded.
Power to withdraw approval vests in the Central Government, the Board, or an income-tax authority empowered to grant approvals; they may withdraw such approval even if no express withdrawal provision exists, provided they give the assessee a reasonable opportunity to show cause and record the reasons for withdrawal.
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