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2019 (3) TMI 2027 - HC - Income TaxProsecution of appeal in High Court - scope of Section 12AA after its amendment with effect from 1st June, 2010 - HELD THAT:- This sub-section has retrospective effect and covers activities of the trust right from the time of insertion of 12A of the said Act till the date of the said amendments and thereafter. Circular No.1 of 2011 of the Central Board of Direct Taxes in paragraph 7.4 thereof states with regard to the said amendment as follows this amendment has been made applicable with effect from 1st June, 2010 and shall accordingly apply for assessment year 2011-12 and subsequent assessment years. The subject assessment year is 2010-11. Revenue is bound by its circular, in our opinion, and cannot prosecute the appeal for this period. This appeal under Section 260A of the Income Tax Act, 1961 and the connected application are dismissed.
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