9911796707
TMI Blog2024 (8) TMI 681X X X X Extracts X X X X X X X X Extracts X X X X ..... x Act, 1961 (hereinafter referred to as 'the Act') dated 20.09.2022 by CPC, Bengaluru (hereinafter referred to as 'ld. AO'). 2. The only effective issue to be decided in this appeal is as to whether the ld CIT(A) was justified in confirming the denial of exemption u/s 11 of the Act by the CPC u/s 143(1) of the Act in the facts and circumstances of the instant case. 3. We have heard the rival submissions and perused the material available on record. The assessee is a society registered u/s 12AA of the Act vide registration dated 08.01.2001. The return for AY 2021-22 was filed by the assessee on 31.03.2022 u/s 139(4) of the Act declaring Nil income claiming exemption 11 of the Act. Infact the last date for filing return of income for AY 202 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The ld CIT(A) even record this fact in his order as part of the reproduction of written submission of the assessee vide page 5 in para 2.1. Despite the same, the ld CIT(A) ignores the fact of assessee having obtained the provisional registration u/s 12AB of the Act and proceeds to uphold the denial of exemption u/s 11 of the Act on the ground that the assessee had not furnished the details of fresh registration obtained. This action of the ld CIT(A) is highly condemnable as it is directly contrary to the facts on record. It is a fact that assessee had furnished the audit report in form No. 10B along with return of income on 31.03.2022. It is fact that this filing of audit report in form 10B of the Act was filed beyond the prescribed due dat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng the registration u/s 12AA of the Act vide order dated 08.01.2001, though in the instant case the assessee had indeed applied for fresh registration u/s 12AB of the Act in the prescribed form within the time allowed by the statute. That is why the said application has been duly considered by the ld Pr. CIT by granting provisional registration in Form 10AC dated 05.04.2022 valid for 5 assessment years commencing from AY 2022-23 to 2026-27. As per the law, fresh registration could be granted only from the year in which application was preferred by the assessee. At the cost of repetition, the said application made by the assessee for seeking fresh registration u/s 12AB of the Act is well within time allowed by CBDT. Hence the original regist ..... X X X X Extracts X X X X X X X X Extracts X X X X
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