https://www.taxtmi.com/caselaws?id=271817 The court ruled in favor of the petitioner, a registered society seeking tax exemption, in a case concerning the interpretation of a CBDT circular dated 27th October, 2010, regarding exemptions under Section 10 (23 C) (vi) of the Income Tax Act. The court held that approvals granted after 1st December, 2006, as per Clause (4) of the circular, would be valid until withdrawn. It found the revenue's argument against retrospective effect of the circular unconvincing and directed the Commissioner of Income Tax Exemption to reconsider the application in accordance with the circular. Additionally, the Chief Commissioner's rejection of the petitioner's application for exemption for assessment years 2008-09 and 2009-10 based on time limitations was deemed incorrect, emphasizing the perpetual validity of exemptions once granted. en-us Mon, 01 Feb 2016 00:00:00 +0530 Wed, 15 Mar 2017 12:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271817 The court ruled in favor of the petitioner, a registered society seeking tax exemption, in a case concerning the interpretation of a CBDT circular dated 27th October, 2010, regarding exemptions under Section 10 (23 C) (vi) of the Income Tax Act. The court held that approvals granted after 1st December, 2006, as per Clause (4) of the circular, would be valid until withdrawn. It found the revenue's argument against retrospective effect of the circular unconvincing and directed the Commissioner of Income Tax Exemption to reconsider the application in accordance with the circular. Additionally, the Chief Commissioner's rejection of the petitioner's application for exemption for assessment years 2008-09 and 2009-10 based on time limitations was deemed incorrect, emphasizing the perpetual validity of exemptions once granted. Case-Laws Income Tax Mon, 01 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271817