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2020 (5) TMI 404 - AT - Income TaxDeduction u/s 11 & 12 - Councel submitted since the assessment for the year under consideration was pending before the Assessing Officer, hence, the assessee is entitled to deduction as per provisions of sections 11 & 12 - HELD THAT:- Considering the submissions of the Ld. AR of the assessee, that where the registration has been granted to a Trust or Institution u/s 12AA of the Act, then the provisions of section 11 & 12 shall apply to the income of such an assessee from the property held under the trust of any preceding assessment year also subject to the condition of the assessment of such preceding year is pending before the AO on the date of such registration, the matter is restored to the file of the AO for verification of the facts and if the contention of the assessee is found true, the AO will allow the benefit of the relevant provisions to the assessee in accordance with law. - Appeal of the assessee stands allowed for statistical purposes.
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