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2006 (6) TMI 75 - HC - Income TaxBenefits under section 11- charitable trust - "1. Whether, Tribunal was correct in law in directing the Assessing Officer to allow the benefits under section 11 of the Income-tax Act, 1961? 2. Whether, Tribunal was correct in law in holding that the provisions contained in section 12A(b) are only directory in nature and not mandatory?" - Board's Instruction No. 1/1148 lays down that exemption under section 11 should not be rejected only on the ground that there had been delay in filing the report by the accountant in terms of section 12A(b). - Since the Supreme Court has laid down that the Department has no right to challenge a circular issued by the Board on any ground whatsoever therefore, both questions will have to be answered in favour of the assessee and against the Department.
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