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2018 (6) TMI 1169 - AT - Income TaxGrant of approval u/s 10(23C)(vi) - claim granted from assessment year 2017-18 onwards only, while it had been sought from assessment year 2016-17 onwards - Held that:- The only reason for shifting thereafter the applicability of the approval from assessment year 2016-17 to A.Y 2017-18 appears to be the fact that the assessee had in the meanwhile filed its return of income for assessment year 2016-17 claiming exemption of its income u/s 10(23C)(vi) of the Act though it had still not been granted approval under the said section. It is indeed, we find, a very strange reasoning on the part of the Ld.CIT(E). How this act on the part of the applicant assessee justifies shifting of grant of approval from A.Y. 2016-17 to A.Y. 2017-18, when otherwise the applicant assessee has been found eligible for grant of approval and has also filed application for the same within time for approval from A.Y. 2016-17, we fail to understand. In the absence of any justifiable reason for shifting the grant of approval to A.Y.2017-18 when otherwise the applicant assessee was eligible for approval from A.Y. 2016-17, we direct the Ld.CIT(E) to grant approval to the applicant assessee from A.Y. 2016-17 onwards. - Decided in favour of assessee.
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