Exemption petition processing clarified: Board to handle fund notifications without DG referral and require director reports immediately. Board will process petitions for notification of Mutual Funds and Exchange Risk Administration Funds without referral to the Director General (Income-tax Exemptions); Directors of Income-tax (Exemptions) must send reports on petitions within their jurisdiction relating to income-tax exemptions including the previously noted categories and the additional exemption categories. The instructions are effective immediately and must be brought to officers' notice.
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Provisions expressly mentioned in the judgment/order text.
Exemption petition processing clarified: Board to handle fund notifications without DG referral and require director reports immediately.
Board will process petitions for notification of Mutual Funds and Exchange Risk Administration Funds without referral to the Director General (Income-tax Exemptions); Directors of Income-tax (Exemptions) must send reports on petitions within their jurisdiction relating to income-tax exemptions including the previously noted categories and the additional exemption categories. The instructions are effective immediately and must be brought to officers' notice.
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