Forgot password
New User/ Regiser
⇒ Register to get Live Demo
2007 (2) TMI 575 - HC - Income Tax
Registration procedure - Whether registration under section 12AA does not necessarily entitle assessee to get income excluded from income of previous year for purpose of determination of tax liability, but it only entitles assessee to claim such exemption, which otherwise could not be claimed in absence of registration - Held that:- If trust or institution is not registered under section 12AA, it would not be able to claim any exemption or exclusion of its income from total income of previous year, even if such income is otherwise liable to be excluded under any of clauses of section 11 or section 12.