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2015 (11) TMI 1124 - AT - Income TaxRegistration under Section 12AA denied - depreciation claimed on the land - Held that:- registration under Section 12AA of the Act was denied to the appellant society solely on the ground that the appellant society had been claiming depreciation on the land which is not permissible under the Income Tax Act. In our considered opinion, this is not relevant consideration at the time of grant of registration. It is the issue to be examined during the course of assessment proceedings after grant of registration under Section 12AA of the Act. In this connection, it is relevant to mention that one of us (Hon’ble Accountant Member) is author of the order in the case of Paramount Public School Education Society Vs. CIT, [2015 (11) TMI 811 - ITAT DELHI] wherein it was held that the registration cannot be denied by examining the issues which are relevant for the assessments. Also we direct the ld. Commissioner of Income Tax (Exemptions), Chandigarh, to grant approval under Section 80G of the Act - Decided in favour of assessee.
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