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2016 (6) TMI 1269 - AT - Income TaxDenial of registration u/s 12AA - sum received from the trustees towards corpus fund clearly covered by the provision of see 2(24)(iia) - Held that:- The first proviso to section 12A(2) was brought in the statute only as a retrospective effect, with a view not to affect genuine charitable trusts and societies carrying on genuine charitable objects in the earlier years and substantive conditions stipulated in section 11 to 13 have been duly fulfilled by the said trust. The statute provides that registration once granted in subsequent year, the benefit of the same has to be applied in the earlier assessment years for which assessment proceedings are pending before the ld. A.O., unless the registration granted earlier is cancelled or refused for specific reasons. The statute also goes on to provide that no action u/s147 could be taken by the AO merely for non-registration of trust for earlier years. Once registration is granted u/s 12AA of the I T Act, section 11 and 12 will apply in respect of income of trust for any AY preceding the AY in which registration is granted, provided appeal is pending before the CIT(A) and objects and activities of the assessee trust are the same as in the year of registration. In the instant case, the assessee trust was granted registration w.e.f 14.9.2009 and the CIT(A) was aware of grant of registration, since the appeal was disposed off only on 11.9.2015. Further, in the instant case the notice u/s 148 of the Act was issued only on 29.3.2010 i.e subsequent to the grant of registration on 14.9.2009, hence, the second proviso put an embargo on the issuance of notice u/s 148 of the Act. Therefore, the CIT(A) ought to have taken note of the 1st proviso as well as 2nd proviso to section 12A, which was inserted by the Finance Act, 2014 w.e.f 1.10.2014. Since both the parties have agreed that the matter needs fresh consideration by the CIT(A), in line of the dictum laid down by the Cochin Bench of the Tribunal in the case of SNDP Yogum (2016 (3) TMI 1110 - ITAT COCHIN ), we restore the issue to the CIT(A). Appeal filed by the assessee is allowed for statistical purpose
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