Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2023 (2) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (2) TMI 594 - AT - Income TaxExemption u/s 11 - registration u/s. 12AA was rejected in terms of the new provision of the Act, 12AB - HELD THAT:- It is not in dispute that the assessee is holding the valid registration and the approval under Section 12A and 12AA of the Act was in effect but it was only for the intervening period as the registration is already available to the assessee effective from A. Y. 2022-23. The bench is of the considered view that in absence of any adverse remark on the activity of the trust merely on technical ground for this intervening period the registration cannot be canceled for this period and a benefit of having registered trust cannot be denied to the assessee when there is specific time extension limit given by the Hon’ble Apex Court and TOLA for this period. The assessee is having sufficient cause for not replying to the notices issued by the Revenue. As regards the contention of the DR we are not considering his prayer to restore to this issue to the file by the ld. CIT(E) as the subsequently the ld. CIT(E) has already granted the registration to the assessee trust and there is no adverse observation by the ld. CIT(E). In light of these facts and circumstances of the case, we see no reason to sustain the order under appeal and in the absence of any controverting finding on record we vacate the order passed by the ld. CIT(E) - Appeal of the assessee is allowed.
|