https://www.taxtmi.com/caselaws?id=20101 The High Court upheld the Commissioner of Income-tax's jurisdiction under section 263, ruling in favor of the Revenue. The Court found that the approval for donation under section 35CCA had been validly withdrawn before the assessment, deeming it erroneous. Emphasizing the purpose of the exemption for genuine rural development institutions, the Court discussed the doctrine of promissory estoppel in taxation matters. It rejected the argument that the approval withdrawal was ultra vires, stating that the power to grant approval includes the power to withdraw it. The Court's decision supported the Revenue's position, denying the assessee's claim and awarding no costs. en-us Tue, 08 Jun 1993 00:00:00 +0530 Wed, 11 Nov 2009 16:47:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20101 The High Court upheld the Commissioner of Income-tax's jurisdiction under section 263, ruling in favor of the Revenue. The Court found that the approval for donation under section 35CCA had been validly withdrawn before the assessment, deeming it erroneous. Emphasizing the purpose of the exemption for genuine rural development institutions, the Court discussed the doctrine of promissory estoppel in taxation matters. It rejected the argument that the approval withdrawal was ultra vires, stating that the power to grant approval includes the power to withdraw it. The Court's decision supported the Revenue's position, denying the assessee's claim and awarding no costs. Case-Laws Income Tax Tue, 08 Jun 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20101