https://www.taxtmi.com/caselaws?id=75711 The court set aside the rejection of approval under section 10(23C) of the Income-tax Act for multiple assessment years and remanded the matter to the Chief Commissioner for reconsideration. The court held that past approvals and exemptions did not preclude rejection without new material, citing that the principle of res judicata does not apply to tax matters for different assessment years. The court directed the Chief Commissioner to allow the petitioner to explain its financial position and reconsider based on the organization's philanthropic objectives and activities. en-us Mon, 24 Aug 2009 00:00:00 +0530 Fri, 07 May 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75711 The court set aside the rejection of approval under section 10(23C) of the Income-tax Act for multiple assessment years and remanded the matter to the Chief Commissioner for reconsideration. The court held that past approvals and exemptions did not preclude rejection without new material, citing that the principle of res judicata does not apply to tax matters for different assessment years. The court directed the Chief Commissioner to allow the petitioner to explain its financial position and reconsider based on the organization's philanthropic objectives and activities. Case-Laws Income Tax Mon, 24 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75711