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2020 (8) TMI 87 - AT - Income TaxExemption u/s 11 - appellant has been granted registration u/s 12AA - HELD THAT:- Similar/identical case of Shree Ramkrishna Samity [2015 (11) TMI 119 - ITAT KOLKATA] had examined the issue on the retrospectivity operation of the 1st proviso to Sub-section (2) of Section 12A as hold that the insertion of the proviso to section 12A(2) of the Act has to be construed as retrospective in operation.” As such the exemption claims in respect of the income for the assessment years 2003-04 to 2008-09, the assessments of which were pending on the date of registration under section 12AA of the Act on 29.10.2010 with effect from 01.04.2010, needs to be assessed under section 12A read with section 11 and 12 of the Act. As the issue is squarely covered in favour of the assessee by the decision of Coordinate Bench in the assessee’s own case and there is no change in facts and law and the Revenue is unable to produce any material to controvert the above said findings. Therefore, respectfully following the decision of Co-ordinate Bench we allow grounds of appeal raised by the assessee.
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