9911796707
TMI Blog2015 (10) TMI 1404X X X X Extracts X X X X X X X X Extracts X X X X ..... der section 12A of the Act. However, the application filed by the assessee was rejected vide order dated September 26, 2008. The order of rejection was set aside by the Income-tax Appellate Tribunal while deciding the assessee's appeal in I. T. A. No. 1702/Hyd/2009 dated September 30, 2009. The Director of Income-tax (Exemption) again rejected the application for grant of registration vide order dated December 31, 2012. Being aggrieved of the order of rejection, the assessee came in appeal before the Income-tax Appellate Tribunal. The Income-tax Appellate Tribunal vide order passed in I. T. A. 150/H/2013 dated September 30, 2013 set aside the order of the Director of Income-tax (Exemption) and directed him to grant registration to the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , 2008, which is admitted in the said petition. As per sub section (2) to section 12A of the Act, it says, 'Where an application has been made on or after the 1st day of June, 2007, the provisions of sections 11 and 12 shall apply in relation to the income of such trust or institution from the assessment year immediately following the financial year in which such application is made'. Thus, as per the provisions of the said sub-section, it says, about applicability of pro visions of sections 11 and 12 of the Act to the income of such trust or institution from the succeeding financial year, when an application for registration under section 12A is filed by such trust or institution in the preceding financial year. Further, in section ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion of the learned authorised representative that as per section 12A(2) the assessee is entitled to avail of exemption under sections 11 and 12 from the assessment year immediately following the financial year in which application for registration was filed. He submitted that as the assessee has filed the application for registration on March 31, 2008 the assessee will be entitled for exemption under section 11 from the immediately following assessment year i.e., assessment year 2008-09. Therefore, the Director of Income-tax (Exemption) is not correct in holding that the assessee will be entitled for exemption under section 11 from the succeeding financial year. On perusal of the order dated March 2, 2014 passed by the Director of Income-ta ..... X X X X Extracts X X X X X X X X Extracts X X X X
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