Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
An existing trust had previously been granted approval u/ss 12AA and 80G of the Income Tax Act. However, instead of applying under clause (i) of the proviso to Section 80G, which is applicable for existing trusts, it incorrectly applied under clause (iii) as a new trust. Clause (i) does not require any provisional approval, and the Principal Commissioner or Commissioner would have granted approval for five years upon written application. The controversy arose due to the incorrect mention of clause (iv) instead of clause (i) in Form No. 10AC, which the assessee admitted was an error. Since Form No. 10AC was filed on time, the incorrect clause mention is considered a curable defect. The order of the Commissioner of Income Tax (Exemption) is set aside, and they are required to consider the application as filed under clause (i) of the first proviso to Section 80G(5) and grant approval accordingly. The assessee's appeal is allowed for statistical purposes.
An existing trust had previously been granted approval u/ss 12AA and 80G of the Income Tax Act. However, instead of applying under clause (i) of the proviso to Section 80G, which is applicable for existing trusts, it incorrectly applied under clause (iii) as a new trust. Clause (i) does not require any provisional approval, and the Principal Commissioner or Commissioner would have granted approval for five years upon written application. The controversy arose due to the incorrect mention of clause (iv) instead of clause (i) in Form No. 10AC, which the assessee admitted was an error. Since Form No. 10AC was filed on time, the incorrect clause mention is considered a curable defect. The order of the Commissioner of Income Tax (Exemption) is set aside, and they are required to consider the application as filed under clause (i) of the first proviso to Section 80G(5) and grant approval accordingly. The assessee's appeal is allowed for statistical purposes.
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