Scientific research association approval requires continuing SIRO status, annual donation reporting, and donor certificates for the approved foundatio...
Scientific research institution approval is conditional on SIRO recognition, annual donation reporting, donor certification, and prescribed compliance...
Revision of an assessment is warranted where the Assessing Officer fails to apply the statutory deeming provisions to additions for undisclosed investment and unexplained cash, omits the applicable special tax rate, and does not consider penalty proceedings. An order is erroneous when based on incorrect facts or law, made without due application of mind, or contrary to natural justice. It is prejudicial to revenue where lawful tax is not realised. The revisional authority may set aside such an assessment, direct further inquiry, and require reassessment under the correct provisions after providing an opportunity of being heard.
Revision of an assessment is warranted where the Assessing Officer fails to apply the statutory deeming provisions to additions for undisclosed investment and unexplained cash, omits the applicable special tax rate, and does not consider penalty proceedings. An order is erroneous when based on incorrect facts or law, made without due application of mind, or contrary to natural justice. It is prejudicial to revenue where lawful tax is not realised. The revisional authority may set aside such an assessment, direct further inquiry, and require reassessment under the correct provisions after providing an opportunity of being heard.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4881 
