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2008 (1) TMI 592 - HC - Income TaxExemption - whether the assessee is entitled for exemption under section 10(15)(iv)(c) of the Act? The exemption u/s 10(15)(iv)(c) of the Income Tax Act, 1961 claimed by the assessee was allowed. Appeal filed by the department was dismissed by the Tribunal. Thereafter, miscellaneous application were filed on the ground that the assessee had paid interest under section 10(15)(iv)(c) of the Act without obtaining the necessary approval from the concerned authority and that the finding of the Tribunal that the assessee had obtained the approval required reconsideration. The Tribunal rejected the application on the ground that there is no apparent mistake. Held that- there was no apparent mistake to be rectified in the order, since the department had failed to show whether any argument had taken place at the time of hearing of the appeal before the Tribunal that no approval for exemption was taken as required u/s 10(15)(iv)(c) of the Act.
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