https://www.taxtmi.com/caselaws?id=400314 The court ruled in favor of the Trust, quashing the impugned order issued by the Director General of Income Tax (DGIT). It held that the DGIT lacked jurisdiction to issue a show cause notice while the application was pending before the Income Tax Settlement Commission (ITSC). The court found the retrospective withdrawal of approval under Section 10(23C)(iv) impermissible and emphasized that matters settled by the ITSC were conclusive and could not be reopened by the DGIT. The court highlighted the exclusive jurisdiction of the ITSC and reiterated the importance of adherence to settled matters under the Income Tax Act. en-us Thu, 29 Oct 2020 00:00:00 +0530 Tue, 03 Nov 2020 12:11:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400314 The court ruled in favor of the Trust, quashing the impugned order issued by the Director General of Income Tax (DGIT). It held that the DGIT lacked jurisdiction to issue a show cause notice while the application was pending before the Income Tax Settlement Commission (ITSC). The court found the retrospective withdrawal of approval under Section 10(23C)(iv) impermissible and emphasized that matters settled by the ITSC were conclusive and could not be reopened by the DGIT. The court highlighted the exclusive jurisdiction of the ITSC and reiterated the importance of adherence to settled matters under the Income Tax Act. Case-Laws Income Tax Thu, 29 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400314