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2022 (10) TMI 568 - AT - Income TaxExemption of income u/s 11 & 12 - Availability of registration u/s 12AA - HELD THAT:- In the instant case, Hon’ble Tribunal directed the Ld.CIT(A) to condone the delay in filing the applications for registration u/s 12AA of the Act and also grant registration with retrospective effect. Accordingly, registration u/s 12AA was granted to the assessee. Merely based on the fact that the revenue has preferred an appeal against the order of the Hon’ble Tribunal cannot be a reason for rejecting the claim u/s 11 or 12 of the Act for the assessee for the impugned assessment year. Pending adjudication of the appeal by the Hon’ble High Court, the assessee is entitled to exemption u/s 11 or 12 of the Act for the year 2006-07. We, therefore, remit the matter back to the file of the AO and direct the Ld.AO to grant exemption u/s 11 or 12 of the Act in accordance with law. Appeal of the assessee is allowed for statistical purpose.
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