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2023 (3) TMI 47 - AT - Income TaxExemption u/s 11 - rejection of its application filed u/s 12 A(1)(ac)(iv) - Income from property held for charitable or religious purposes - CIT(E) rejected the application filed by the assessee u/s 12A(1)(ac)(iv) in terms of 2nd proviso to section 11(7) inter-alia, on the basis that the registration granted to the assessee u/s 10(23C) was provisional in nature and therefore, same is not identical to the approval granted under section 10(23C) for the purpose of section 11(7) - HELD THAT:- CIT(Exemptions) has rejected the submission of the assessee to treat provisional approval under section 10(23C) identical to approval u/s 10(23C) for the purpose of section 11(7) - Therefore, in view of the above, once the 1st proviso to section 11(7) is not triggered there is no question of the registration granted under section 12A of the Act becoming inoperative. Since there is no dispute regarding the fact that the assessee is still holding registration under section 12A of the Act, therefore, the issue of the validity of rejection of assessee's application u/s 12A(1)(ac)(iv) of the Act becomes solely academic in the facts of the present case.The grounds raised by the assessee are rendered academic in nature and therefore, are dismissed as infructuous. During the hearing, it was submitted that the assessee had filed an application in Form 10A as per section 12A(1)(ac)(i) of the Act on 23/11/2022, and consequent thereto, registration in Form 10AC has been granted on 01/12/2022, as per section 12AB(1)(a) for the period being assessment years 2022-23 to 2026-27. Our findings in the present appeal will not and cannot have any consequence, in case, the assessee at any time is found to be at fault for violation of any condition specified under the Act in respect of registration granted to it, in which case the Revenue can take appropriate action as per law. Appeal by the assessee is dismissed.
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