Remedial action where approval u/s 35(1)(ii) subsequently withdrawn.

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....565/CBDT  Dated: June 19, 1984 Attention is invited to the provisions of sec.35 of the I.T.Act. 1961 under which deduction is allowed in computing the business income of any sum paid to a s....

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.... taken by the department though, on withdrawal of the approval, the benefit given u/s.10(21) of the Income-tax Act will be denied, and the income of the institution will become taxable. 3. It is, t....