Section 35AC(7) is prospective | Plea of equity/hardship not legally sustainable: SC

Prashanti Medical Services & Research Foundation Vs UOI (Supreme Court of India)

Conclusion:

Assessee’s contention that assessee-charitable trust were not able to receive more amount by way of donation for their project in the third financial year 2017-2018 due to insertion of sub-section (7) of Section 35AC and therefore, Court may consider appropriate to invoke powers under Article 142 of the Constitution and allow assessee to receive donation eve

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