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TMI Blog2023 (3) TMI 1049X X X X Extracts X X X X X X X X Extracts X X X X ..... end any of the grounds of appeal. 2. The only grievance in this appeal is against the order of provisional approval of registration u/s 10(23C) of the Income Tax Act, 1961 ( the Act ) from Assessment years ( AYs ) 2020-21 to 2023-24. It is contended that the approval should have been granted with effect from AY 2020-21 instead of 2021-22. It was also contended that the decision is in clear contravention of the CBDT Circular which has clarified the application of the amended provisions. 3. On the other hand, Ld.CIT DR opposed these submissions and supported the orders of authorities below. 4. We have heard Ld. authorized representatives of the parties and perused the material available on record. The Income Tax Department has notified the following changes in law:- Amendment of section 10. 4. (H) in section 10, (a) in clause (4D), with effect from the 1st day of April, 2021, (i) for the words convertible foreign exchange, to the extent such income accrued or arisen to, or is received in respect of units held by a non-resident , the words and brackets 'convertible foreign exchange or as a result of transfer of securities (other than shares in a c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... itution, under sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via), may call for such documents (including audited annual accounts) or information from the fund or trust or institution or any university or other educational institution or any hospital or other medical institution, as the case may be, as it thinks necessary in order to satisfy itself about the genuineness of the activities of such fund or trust or institution or any university or other educational institution or any hospital or other medical institution, as the case may be, and the compliance of such requirements under any other law for the time being in force by such fund or' trust or institution or any university or other educational institution or any hospital or other medical institution, as the case may be, as are material for the purpose of achieving its objects and the prescribed authority may also make such inquiries as it deems necessary in this behalf: ; (B) with effect from the 1st day of April, 2021, the following provisos shall be substituted, namely: Provided that the exemption to the fund or trust or institution or university or other educational institution or hos ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... edical institution; and (B) the compliance of such requirements of any other law for the time being in force by it as are material for the purpose of achieving its objects; and (b) after satisfying himself about the objects and the genuineness of its activities under item' (A), and compliance of the requirements under item (B), of subclause (a), (A) pass an order in writing granting approval to it for a period of five years; (B) if he is not so satisfied, pass an order in writing rejecting such application and also cancelling its approval after affording it a reasonable opportunity of being heard; (iii) where the application is made under clause (iv) of the said proviso, pass an order in writing granting approval to it provisionally for a period of three years from the assessment year from which the registration is sought, and send a copy of such order to the fund or trust or institution or university or other educational institution or hospital or other medical institution: ; (iii) for the eighth and ninth provisos, (A) with effect from the 1st day of June, 2020, the following provisos shall be substituted and shall be deemed to have been s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h effect from the 1st day of June, 2020, the following proviso shall be inserted and shall be deemed to have been inserted, namely: Provided also that in case the fund or trust or institution or any university or other educational institution or any hospital or other medical institution referred to in the first proviso makes an application on or after the 1st day of June, 2006 for the purposes of grant of exemption or continuance thereof, such application shall be made on or before the 30th day of September of the relevant assessment year from which, the exemption is sought: ; (vi) with effect from the 1st day of April, 2021, the sixteenth proviso as so inserted, shall be omitted; (vii) for the eighteenth proviso, (A) with effect from the 1st day of June, 2020, the following proviso shall be substituted and shall be deemed to have been substituted, namely: Provided also that all pending applications, on which no notification has been issued under sub-clause (iv) or subclause (v) before the 1st day of June, 2007, shall stand transferred on that day to the prescribed authority and the prescribed authority may proceed with such applications under those su ..... 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