Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2019 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (3) TMI 1888 - AT - Income TaxExemption u/s 11 - application for registration under section 12A of the Act has been granted by the Commissioner on a later date - Assessee submits that it has been granted registration u/s 12AA of the Act vide order dated 18.08.2015 and therefore, the benefit of exemption u/s 11 should be granted to it for the year under consideration in view of the proviso inserted to sub-section (2) of section 12A - HELD THAT:- The assessee was granted registration on 18.08.2015 i.e. the date on which appellate proceedings were pending before the CIT(A). In number of judicial precedents, it has been held that the proceedings before the CIT(A) are continuation of assessment proceedings and once the assessee has been granted registration, then the conditions prescribed in the proviso to section 12A(2) of the Act need to be applied and the assessee in such circumstances, is entitled to the exemption under sections 11 and 12 of the Act. Accordingly, we hold so. In such facts and circumstances, we direct the Assessing Officer to allow the aforesaid benefit of exemption under sections 11 and 12 of the Act to the assessee in the present case and determine the tax liability accordingly. In the facts of the case before us, the assessee has received 12A registration certificate, which is dated 18.08.2015. The CIT(A) has acknowledged the same and copy of the said certificate is also available before us. In such circumstances, the ratio laid down by the Delhi Bench of Tribunal in Bulandshahr Development Authority [2017 (12) TMI 915 - ITAT DELHI] is not applicable to the facts of the present case. Accordingly, we reverse the order of CIT(A) in this regard and direct the Assessing Officer to allow exemption under sections11 and 12 of the Act, in view of proviso to section 12A(2) - Decided in favour of assessee.
|