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...
Section 72(c) of the Black Money Act creates a conclusive, self-executing fiction: undeclared foreign assets acquired before the Act commenced are deemed acquired in the previous year when a Section 10 notice is issued. Assessment must follow in the immediately succeeding assessment year. Where no declaration was made, Section 72(b) does not apply. A first notice in FY 2018-19 therefore permits assessment only for AY 2019-20, rendering assessment for AY 2018-19 without jurisdiction and invalidating consequential proceedings.
Section 72(c) of the Black Money Act creates a conclusive, self-executing fiction: undeclared foreign assets acquired before the Act commenced are deemed acquired in the previous year when a Section 10 notice is issued. Assessment must follow in the immediately succeeding assessment year. Where no declaration was made, Section 72(b) does not apply. A first notice in FY 2018-19 therefore permits assessment only for AY 2019-20, rendering assessment for AY 2018-19 without jurisdiction and invalidating consequential proceedings.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4881 
