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2018 (4) TMI 716 - SC - Income TaxValidity of Section 35AC(7) of the Income Tax, 1961 inserted w.e.f. 1st April, 2017 - it is claimed that, post amendment, no donors are coming forward to donate the amount which is required for construction of the specified hospital etc. - interim relief - Held that:- On the basis of undertaking given by the petitioner, SC directed that the donors who want to donate some money to the petitioner for construction of the specified hospital by the petitioner may claim exemption under Section 35AC of the Income Tax Act. However, in case the petitioner does not succeed here, the petitioner will be liable to pay the amount of tax and applicable interest so claimed by the donors as per the undertaking given by Shri Arvind Datar, learned senior counsel on behalf of the petitioner. HC ref case [2017 (9) TMI 1237 - GUJARAT HIGH COURT]
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