https://www.taxtmi.com/caselaws?id=456824 The court determined that the requirement under Section 10B(7) of the Income Tax Act, 1961, for filing a declaration to withdraw exemption is mandatory, but the timing of filing before the due date is directory. The declaration must be filed before the assessment is completed. The court ruled in favor of the assessee, allowing declarations filed after the due date but before assessment completion, and disposed of the appeal accordingly. en-us Wed, 14 May 2008 00:00:00 +0530 Sat, 17 Aug 2024 10:30:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456824 The court determined that the requirement under Section 10B(7) of the Income Tax Act, 1961, for filing a declaration to withdraw exemption is mandatory, but the timing of filing before the due date is directory. The declaration must be filed before the assessment is completed. The court ruled in favor of the assessee, allowing declarations filed after the due date but before assessment completion, and disposed of the appeal accordingly. Case-Laws Income Tax Wed, 14 May 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456824