Electoral trust approval procedure requires FORM A filing, defect cure, inquiry and CBDT decision within a prescribed period. Approval requires a duplicate application in FORM A to the local Commissioner/Director and Member (Income-tax), CBDT; defects must be notified within thirty days and cured within a capped period, failing which the application may be treated as invalid. The local authority may inquire into genuineness and report to the Board, which may call further information, grant approval subject to conditions, or reject the application after hearing the applicant and recording reasons. Decisions must be issued within a six-month period (excluding defect cure time). Specified documentary evidence and a shareholder-change intimation requirement apply.
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Provisions expressly mentioned in the judgment/order text.
Electoral trust approval procedure requires FORM A filing, defect cure, inquiry and CBDT decision within a prescribed period.
Approval requires a duplicate application in FORM A to the local Commissioner/Director and Member (Income-tax), CBDT; defects must be notified within thirty days and cured within a capped period, failing which the application may be treated as invalid. The local authority may inquire into genuineness and report to the Board, which may call further information, grant approval subject to conditions, or reject the application after hearing the applicant and recording reasons. Decisions must be issued within a six-month period (excluding defect cure time). Specified documentary evidence and a shareholder-change intimation requirement apply.
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