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2018 (12) TMI 36 - AT - Income TaxExemption u/s 11 - assessee did not have the required registration u/s 12AA - addition on account of corpus fund/donations, addition on account of creditors and addition on account of disallowance - Held that:- It is an admitted fact that the registration was granted vide order dated 8.6.2015 which was to have effect from 1st April, 2014. Although the assessment order was passed on 27.2.2014, the assessee was already registered u/s 12AA on 29.01.2016 when the assessee’s appeal was decided by the Ld. Commissioner of Income Tax (A). As the powers of the CIT(A) are coterminous with that of the Assessing Officer and further as the appellate proceedings are an extension of the assessment proceedings itself, we are of the considered opinion that the benefit of this proviso is to be extended to pending first appellate proceedings also. Accordingly, we hold that the assessee should be allowed the benefit of exemption u/s 11 - issue is restored to the file of the Assessing Officer to examine the assessee’s claim u/s 11 of the Act after affording proper opportunity to the assessee - Appeal of the assessee stands allowed for statistical purposes.
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