INCOME TAX ACT, 1961

Section 10(46)

Benefit of exemption - Filing of specified income - Allowability -

Assessee claimed to be a Board constituted with a view to acquire the Mysore Palace, including the buildings, temples and other places of religious worship, the Royal treasure including the Royal Throne, Royal Crown, etc. Assessee was under direct supervision of Deputy Commissioner of District, who is executive head of the district. Assessee had submitted an application seeking Notification under section 10(46) specifically requesting to notify for exemption of assessee under section 10(46) with retrospective effect from 01-6-2011. It was contended that CBDT had issued a Notification dated 09-4-2019 exercising the powers conferred by section 10(46), notifying assessee. Held: There is no legal impediment for CBDT to consider/reconsider the application to extend the benefit of Notification dated 09-04-2019 retrospectively with effect from 01-06-2011 since the nature of assessee remained the same even for the earlier years. Hence, CBDT was directed to reconsider the application submitted by assessee and take a decision in accordance with law by passing a speaking order inasmuch as extending the benefit of the Notification dated 09-04-2019 retrospectively with effect from 01-06-2011.

REFERRED :

FAVOUR : In assessee's favour

A.Y. :

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