Approval withdrawal under section 35(1)(ii) prompts departmental remedial action to deny section 10(21) benefit and tax institution. CBDT mandates remedial action where approval u/s 35(1)(ii) for scientific research institutions is withdrawn; the denial of the concession under section 10(21) renders the institution's income taxable, and departments must take consequential measures and notify all subordinate officers.
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Provisions expressly mentioned in the judgment/order text.
Approval withdrawal under section 35(1)(ii) prompts departmental remedial action to deny section 10(21) benefit and tax institution.
CBDT mandates remedial action where approval u/s 35(1)(ii) for scientific research institutions is withdrawn; the denial of the concession under section 10(21) renders the institution's income taxable, and departments must take consequential measures and notify all subordinate officers.
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