Supreme Court Upholds Prospective Application of Section 35AC(7) of the Income Tax Act in Charitable Trust Case (25 July 2019)

/ Abhay Manohar Sapre, Charitable Donations, Income Tax Act, 1961, Income Tax Act, 1961 with Section 35AC, Indu Malhotra, Judges, Tax Deductions, Tax Law

Supreme Court Upholds Prospective Application of Section 35AC(7) of the Income Tax Act in Charitable Trust Case (2019) LEGAL ISSUE: Whether the newly inserted sub-section (7) of Section 35AC of the Income Tax Act, 1961, which disallows deductions for certain charitable donations, applies retrospectively to projects approved before its enactment. CASE TYPE: Income Tax Law […]

Supreme Court Upholds Prospective Application of Section 35AC(7) of the Income Tax Act in Charitable Trust Case (25 July 2019) Read Post »