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2010 (9) TMI 776 - AT - Income TaxExemption under section 80G(5)(vi) of the Act - paras 29.3 to 29.7 of Board's Circular No. 5 being "Explanatory circular for Finance (No. 2) Act, 2009" the learned Director of IT (Exemption) should have given the said certificate for the assessment year 2010-11 onwards and not for only three assessment years - Keeping in view the principle that any circular issued by the Board, which is favourable to the assessee would be binding on the Revenue it was held that Director of IT (Exemption) to modify the exemption certificate dated 29th April, 2010, so as to make the same valid for the assessment year 2010-11 onwards till the same is withdrawn as per law - Appeal allowed
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