Orders passed by the prescribed authority under section sub-clauses (vi) and (via) of clause (23C) of section 10 made appealable before Income-tax Appellate Tribunal

[Admin TMI]

Question - What are proposed changes in Section 253 regarding the appeal provisions in Finance Bill 2015 ?

AI Summary

Proposed Amendment to Section 253: Allows Appeals on Tax Exemption Orders for Educational, Medical Institutions to ITAT. The discussion addresses proposed changes in Section 253 of the Income-tax Act as per the Finance Bill 2015. It highlights that orders by the prescribed authority under sub-clauses (vi) and (via) of clause (23C) of section 10, which exempt income for educational and medical institutions from tax, are not currently appealable before the Income-tax Appellate Tribunal (ITAT). The proposed amendment will allow aggrieved parties to appeal such orders to the ITAT, aligning with provisions for charitable trusts. This change is set to take effect from June 1, 2015.