Withdrawal of recognition given to funds

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....62 were infringed but the recognition was not withdrawn by the Commissioner as no machinery existed to detect violations of the Rules. 2. Rule 3(3) of Part A and rule 2(3) of Part B and C of the Fourth Schedule to the Income-tax Act, 1961 authorises the Commissioner of Income-tax to withdraw recognition already given to the funds if in his opinion the funds contravene any of the conditions as p....

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....of infringement having been detected by any Commissioner as a result of the scrutiny directed to be made under the above referred circular. 3. With a view to tackle the problem effectively, Board desires that the following steps may be taken immediately:- (i) A list of recognised provident funds, approved superannuation funds and approved gratuity funds may be prepared immediately, and a cop....