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2018 (8) TMI 1050 - AT - Income TaxDenial of exemption u/s 11 - CIT(A) observed that assessee was not having registration either under section 12AA of the Act or approval u/s.10(23C)(vi) of the Act and, therefore, the entire receipts has to be taken as income of the assessee - taxing the entire receipts of the assessee trust in place of net receipts. Held that:- it is not in dispute that the objects and activities of the trust or the year under consideration are same as were on 30.3.2015 when registration u/s.12AA was granted to the assessee by the CIT (Exemption) - Further, as held by Ahmedabad Bench in the case of Shri Bhanushali Mitra Mandal (2016 (4) TMI 578 - ITAT AHMEDABAD) that the appeal is the continuation of the assessment proceedings and going by the principle of purposive interpretation of statues, an assessment proceeding which is pending in appeal before the appellate authority should be deemed to be 'assessment proceedings pending before the assessing officer' within the meaning of that term as envisaged under the first proviso to Sub-section (2) of Section 12A. It follows therefrom that the assessee which obtained registration u/s. 12AA of the Act during the pendency of appeal was entitled for exemption u/s 11 of the Act. - Decided in favor of assessee.
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