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2011 (9) TMI 222 - AT - Income TaxExemption under s. 10(20) and sec. 12AA - definition of 'local authority' - Exemption under s. 10(20) was no longer available to the assessee after the legislative amendment w.e.f. 1st April, 2003, - assessee is a major port trust set up by the virtue of Gazette Notification No. 159 - So Assesse demanded exemption u/s 12AA - Even as the assessee was granted registration under s. 12AA, the CIT(A) declined to grant the consequential benefits on procedural grounds - Keeping in view the case CIT v. U.P. Forest Corpn [2007 -TMI - 40389 - SUPREME Court] held that deem it fit and proper to remit the matter to the file of the AO with a direction to examine the matter, on merits, for eligibility to tax exemption as a result of the registration under s. 12AA now available to the assessee - Appeal allowwed
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