https://www.taxtmi.com/caselaws?id=220889 The High Court upheld the decision of the Income Tax Appellate Tribunal, ruling in favor of the assessee in an appeal under Section 260A of the Income Tax Act. The Court held that exemptions granted under Section 80G(5) of the Act are perpetual and cannot be withdrawn without following statutory procedures, as clarified by circulars issued by the CBDT. The Court emphasized that once an exemption is granted in perpetuity, it cannot be revoked arbitrarily. Consequently, the High Court dismissed the appeal filed by the Revenue, finding no substantial question of law to consider. en-us Wed, 30 Jan 2013 00:00:00 +0530 Mon, 01 Jul 2013 12:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220889 The High Court upheld the decision of the Income Tax Appellate Tribunal, ruling in favor of the assessee in an appeal under Section 260A of the Income Tax Act. The Court held that exemptions granted under Section 80G(5) of the Act are perpetual and cannot be withdrawn without following statutory procedures, as clarified by circulars issued by the CBDT. The Court emphasized that once an exemption is granted in perpetuity, it cannot be revoked arbitrarily. Consequently, the High Court dismissed the appeal filed by the Revenue, finding no substantial question of law to consider. Case-Laws Income Tax Wed, 30 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220889