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2017 (12) TMI 989 - AT - Income TaxGrant of registration under Sec. 12AA - first proviso of Sec.12A(2) applicability - retrospective effect - Held that:- The first proviso of Sec. 12A(2) as had been made available on the statute vide the Finance (No. 2) ‘Act’. 2014, with effect from 01.10.2014, being a beneficial provision intended to mitigate the hardships in case of genuine charitable institutions, thus, find ourselves to be in agreement with the view taken by the Tribunal in the aforesaid appeals. We thus, are of the considered view that the first proviso of Sec. 12A(2) would be applicable to the case of the present assessee. We therefore set aside the order of the CIT(A) and consequently delete the addition - Decided in favour of assessee
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