Issue/approval of notifications under section 10(23C)(iv) and section 35(1)(ii)/(iii) of Income-tax Act, 1961--After completion of assessments--Rectification of mistake--Regarding

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....of assessments--Rectification of mistake--Regarding. Circular No. 725 Dated 16/10/1995 Section 10(23C)(iv) of the Income-tax Act, 1961, provides that any income receive by a person on behalf of any fund or institution established for charitable purposes is not includible in the total income if the said found or institution is notified by the Central Government in the Official Gazette, hav....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... university, college or institution is for the time being approved for the purposes of these clauses, by the prescribed authority, by notification in the Official Gazette. (3) The Board have received representations that quite often the notifications are issued much after the completion of assessments of the relevant persons for the relevant assessment years. The Assessing Officers have rejecte....