2014 (7) TMI 997

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..... had been issued, in respect of which exemption is claimed by the asseesee, were so issued on 18th February 1998, then, requirement of a notification in the official gazette as a condition precedent for exemption u/s 10(23G) of the Act, was inapplicable - the Tribunal was in no error in reversing the concurrent findings of facts – it was clearly vitiated by any error of law apparent on the face of .....

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..... 4(a), projected as substantial question of law. Mr. Suresh Kumar submits that the appeal survives insofar as question 4(b) on page no.3. That reads as under: Whether on the facts and in the circumstances of the case and in law, the Hon'ble ITAT was correct in holding that the precondition of notification in the Official Gazette, introduced by Finance Act, 1997, w.e.f.01.04.1998 was not app .....

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..... 3G) of the Income Tax Act, 1961 was introduced by the Finance Act, 1997 and is with effect from 1st April 1998. That is clear from the circular of the Central Board of Direct Taxes, a copy of which has been handed over by Mr. Mistry, to us. Our attention is invited to para 10.3 of the circular dated 23rd December 1998 in this behalf. 5. We have perused the order passed by the Tribunal and its c .....

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