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    <title>Applicability to earlier years of the registration granted to a trust or institution - THE FINANCE (No. 2) BILL, 2014</title>
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    <description>Amendment grants registration-linked retrospective relief: where a trust or institution is later granted registration, the benefit of tax exemptions applies to income from trust property in earlier assessment years pending on the date of registration, provided the objects and activities in those years match those on which registration was granted; reopening of assessments for preceding years is barred solely for lack of prior registration. Relief excludes cases where registration was refused or a granted registration was cancelled.</description>
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      <description>Amendment grants registration-linked retrospective relief: where a trust or institution is later granted registration, the benefit of tax exemptions applies to income from trust property in earlier assessment years pending on the date of registration, provided the objects and activities in those years match those on which registration was granted; reopening of assessments for preceding years is barred solely for lack of prior registration. Relief excludes cases where registration was refused or a granted registration was cancelled.</description>
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