Mere Generation of Surplus from Year to Year cannot be Reason for Rejection of Application u/s 10(23C) (vi) of Income Tax Act: Rajasthan HC orders to re-consider Application [Read Order]

Rajasthan HC orders to re-consider application and observed that the mere generation of surplus from year to year cannot be reason for rejection of application under Section 10(23C) (vi) of Income Tax Act

By Kalyani B. Nair - On March 19, 2024 4:36 pm - 2 mins read

Rajasthan High Court - Rejection of Application - Re consider Application - Surplus generation - TAXSCAN

The Rajasthan High Court ordered to re-consider application and observed that the mere generation of surplus from year to year cannot be reason for rejection of application under Section 10(23C) (vi) of the Income Tax Act, 1961. The petitioner is a Charitable Trust, registered with the Sub Registrar, Hanumangarh on 28.11.2023 and with Devasthan Department,…

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