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2010 (12) TMI 513 - HC - Income TaxExemption u/s 10(23C)(vi) - Rule 2CA of the Income-tax Rules, 1962 - It is evident from Form 56D that the audited annual accounts, balance-sheets, and annual reports for the previous three years are to be enclosed to the application, along with copies of the assessment orders for the said three years - only the income of the previous financial year, relevant to the assessment year in question, would be required to be examined by the prescribed authority, and not the two previous years prior thereto - assessment year 2008-09, the petitioner was required to submit their application on or before March 31, 2008 and, since the petitioner submitted their application on March 26, 2008 within time, the annual accounts for the financial year 2007-08 (which would come to an end only on March 31, 2008) could not have been finalized by then - mere fact that the other limb of the order, requiring the petitioner to submit the annual accounts for the financial year 2007-08, is erroneous would not necessitate exercise of discretion under article 226 of the Constitution of India to interfere with the order impugned in this writ petition - The writ petition fails and is, accordingly, dismissed
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