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2017 (1) TMI 452 - AT - Income TaxExemption claimed u/s. 11/12 - denial of claim on the ground that the assessee society is not registered u/s. 12AA for the relevant AY - Held that:- We find that the addition of ₹ 1,58,27,052/- is confirmed by the Ld. CIT(A) solely on the ground that the assessee had not been granted Certificate of Registration u/s. 12A of the I.T. Act, 1961. We find that Ld. CIT(E) vide his order dated 19.8.2016 passed u/s. 154 of the Act has rectified the mistake by stating that the benefit of registration u/s. 12AA now may be read as from “Assessment year 2009-10”. Hence, the assessee is eligible exemption u/s. 11 of the Act from the assessment year 2009-10. The assessee is eligible for registration u/s. 12AA in the present assessment year i.e. AY 2012-13, as a result thereof, also eligible for exemption claimed during the AY 2012-13. Accordingly, the addition in dispute is not sustainable in the eyes of law. Hence, we set aside the orders of the lower authorities and delete the addition in dispute. - Decided in favour of assessee
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