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2013 (5) TMI 198 - AT - Income TaxComputation of income as NIL - whether CIT(A) erred in directing to compute the income at NIL ignoring that the assessment was made at returned income as claim, u/s 11 of IT. Act, 1961 not made in return, could not be allowed by AO without filing of revised return by the assessee? - Held that:- CIT(A) did not allow any new exemption or deduction to the assessee but had simply corrected the assessment order with an observation that the assessee society was exempted u/s 11 of the Act, therefore the assessment was to be made at nil income and the CIT(A) directed the AO to finalize the assessment accordingly as the assessee society has been granted registration u/s 12A and when the assessee society has applied more than 85% of its total receipts for the objects and charitable purposes of the society, then certainly the assessee society was entitled for exemption u/s 11. No infirmity, ambiguity or any other valid reason to interfere with the impugned order. Against revenue.
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