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2014 (12) TMI 717 - ITAT CHENNAIValidity of revised return filed u/s 139(5) Claim of exemption not made by the assessee in the original return filed u/s.139(1) Audit u/s.12(1)(b) has been conducted within the time frame envisaged u/s.139(5) or not - Held that:- Assessee is entitled for exemption under section 11 though the claim was made in the revised return filed subsequently on granting of registration u/s 12AA - registration u/s 12AA was granted to the assessee institution by the DIT(E) w.r.e.f. AY 2003-04- The Tribunal in the case of the assessee for the earlier assessment year, restored the assessment back to the file of the AO for reframing assessment in the light of the allowance of registration to the assessee u/s 12AA of the Act. When the assessee filed its original return of income at that time, assessee was not granted registration u/s 12AA and therefore, could not claim exemption u/s 11 and 12 of the Act in the original return of income - claim of the assessee for getting exemption u/s 11 and 12 of the Act on principal basis was agreed by the. Tribunal in view of registration allowed to the assessee u/s 12AA of the Act w.r.e including for the AYs - therefore, the Tribunal restored the matter back to the file of the AO for examining and verifying the facts and for allowing exemption u/s 11 and 12 of the Act as per law as both the parties agreed to it before the Tribunal thus, there was no error in the order of the CIT(A) in directing the AO to allow exemption u/s 11 and 12 of the Act to the assessee Decided against revenue. Entitlement for exemption u/s 11 Effect of amendment u/s 2(15) w.e.f. 1.4.2009 - Whether the assessee is hit by newly inserted proviso to section 2(15) or not - Held that:- The assessee filed return of income for the AY 2009-10 on 29.9.2009 admitting Nil income AO while in the scrutiny process of the view that the assessee as an AOP for this AY lost its character of charitable organization and not eligible for exemption u/s 11 CIT(A) was of the view that the assessee is eligible for exemption u/s 11 & 12 of the Act as the same has been decided in assessees own case in the earlier assessment year CIT(A) failed to note that the facts in appeals before him for the AYs 2005-06 and 2006-07 are not similar to that of AY 2009-10 - Provisions of section 2(15) was amended with effect from 1.4.2009 which are applicable to assessment year 2009-10, wherein a proviso was inserted CIT(A) while disposing off the appeal for the AY 2009-10 did not go into the proviso to section 2(15) of the Act especially when the assessee is receiving various receipts for various services rendered by it CIT(A) has not examined as to whether the assessee's activities fall under general public utility and whether they fall within the ambit of amended provisions of section 2(15) thus, the matter is to be remitted back to the CIT(A) for fresh adjudication Decided in favour of revenue.
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