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2012 (1) TMI 163 - AT - Income TaxExemption u/s 11 - JDA entitlement for registration - seek for registration under s. 12A/12AA. - Held that:- In case the authority has not complied with the provision of s. 11(4) of the Act then perhaps exemption under s. 11 may not be applicable. However, for the purpose of registration, we feel that JDA is entitled for registration. We had already noticed that Tribunal, Jaipur Bench has allowed the registration in the case of Jaipur Development Authority. Accordingly, we direct the learned CIT to allow registration under s. 12AA of the Act. Sub-cl. (a) of s. 12A requires that application of registration should be filed within one year from the date of creation of the trust. In case the same is filed before 1st June, 2007 then the first proviso to s. 12A(a) permitted the learned CIT to condone the delay. However, the first proviso to s. 12A(a) is not applicable for the application made on or after 1st June, 2007. Hence, the learned CIT can allow the registration from first year of the financial year in which the application is made. Hence registration, if any, to be allowed will be from the first day of financial year in which application is made or from the date of creation of trust whichever is later.
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