TMI BlogProcedure for approvalX X X X Extracts X X X X X X X X Extracts X X X X ..... st day of July of the previous year relevant to the assessment year for which the approval is sought, to the Commissioner of Income-tax or the Director of Income-tax, as the case may be, having jurisdiction over the applicant; (b) the applicant shall also send a copy of the application to the Member (Income-tax), Central Board of Direct Taxes accompanied by the acknowledgement receip ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (e) if the applicant fails to remove the defect within the period so allowed, the Commissioner of Income-tax or the Director of Income-tax, as the case may be, shall send his recommendation to the Member (Income-tax), Central Board of Direct Taxes for treating the application as invalid; (f) the Central Board of Direct Taxes, if satisfied, may pass an order treating the application as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... esult of enquiry conducted, if any, grant approval to the electoral trust or reject the application; (j) the Central Board of Direct Taxes may also impose any conditions, subject to which the approval shall be valid; (k) no order treating the application as invalid or rejecting the application or withdrawing the approval shall be passed by the Central Board of Direct Taxe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... thdrawing the approval shall be sent to the applicant, the Assessing Officer and the Commissioner of Income-tax or the Director of Income-tax, as the case may be; (o) the approval shall be valid for the assessment year relevant to the financial year in which such application has been made and for a further period, not exceeding three assessment years, as may be specified in such appro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... litical parties registered under section 29A of the Representation of the People Act, 1951 (43 of 1951); and (g) copy of accounts of the applicant for the last one, two or three years, as may be applicable. (3) Any change in the shareholders, subsequent to the approval granted under the Scheme, shall be intimated to the Board within thirty days of the change. ] ..... X X X X Extracts X X X X X X X X Extracts X X X X
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