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AI Drafter - (New and Powerful) ✕ Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
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Issues: Whether the assessee temple was entitled to approval under Section 10(23C)(v) of the Income-tax Act, 1961 from assessment year 2015-16 as a renewal of the earlier approval, instead of from assessment year 2016-17.
Analysis: The temple was treated as a distinct religious institution under the Tamil Nadu Hindu Religious and Charitable Endowments Act, 1959 and, notwithstanding administration by State-appointed officers, remained an independent assessable unit under the Income-tax Act, 1961. Section 10(23C)(v) permits approval to a trust or institution wholly for public religious purposes. The record showed that approval had already been granted earlier and the later application was only a continuation of that approval. Since the approval was not a fresh claim but a renewal, it ought to have been granted without a break from the year preceding the date adopted by the Commissioner (Exemptions).
Conclusion: The assessee was entitled to approval under Section 10(23C)(v) from assessment year 2015-16, and the restriction of approval to assessment year 2016-17 was ?
Ratio Decidendi: Where an institution is otherwise eligible for approval under Section 10(23C)(v) and the application is in substance for renewal of an earlier approval, the approval should be continued from the appropriate preceding assessment year so that there is no break in the exemption.
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