2025 (12) TMI 1161

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....tal income on account of payment of royalty to its Associate Enterprise ['AE']. 2.1 The Assessing Officer has erred in not allowing the deduction claimed under section 80G while computing the appellant's total income for the year under consideration. 2. Then, the appellant company has also raised the issues like short grant of TDS, credit for tax paid on regular assessment was not granted and short granting of interest under section 244A of the Income Tax Act which are mistakes relating computation of tax as per law. 3. The first and main ground of appeal in this assessment year, raised by appellant company is that the AO passed a draft assessment order dated 25.9.2023 under section 144C(1) of the Act making an upward....

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....r the conclusion of APA, in March, 2025 the Ld. AR of the appellant has stated that the appellant company has filed a modified Return of Income on 30.6.2015 in terms of section 92CD of the Act. In view of the same, the Ld. AR of the appellant company requested the Bench to give a direction to Ld. AO to give effect to the modified return filed by the appellant in accordance with the above mentioned Advance Pricing Agreement. 6. The Ld. DR has stated that the order may be passed as per the Provisions of Law. 7. Heard both sides. As the appellant company has signed the Unilateral Advance Pricing Agreement with CBDT and accordingly filed a modified Return of Income enhancing the income, the Ld. AO is directed to give effect to this Agreem....

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....so leads to wastage of time and resources of the tax administration in renewing such approvals in a routine manner. 29.5 Therefore, the proviso to clause (vi) of sub-section (5) of section 80G has been omitted to provide that the approval once granted shall continue to be valid in perpetuity. 29.6 Further, the Commissioner will also have the power of withdraw the approval if the Commissioner is satisfied that the activities of such institution or fund are not genuine or are not being carried out in accordance with the objects of the institution or fund. 29.7 Applicability - This amendment has been made applicable with effect from 1st October, 2009. Accordingly, existing approvals expiring on or after 1st October, ....