9911796707
TMI Blog2025 (1) TMI 1186X X X X Extracts X X X X X X X X Extracts X X X X ..... ed in holding that the assessee is eligible for exemption by virtue of first proviso to section 12A(2) of the Income-tax Act, 1961 and thereby allowing the exemption of Rs. 10,45,50,001/- under section 11 and 12 of the Income-tax Act. 1961 despite the fact that the no assessment for the AY 2019-20 in the case of the assessee was pending as on 25.10.2019 (the date of application for registration under section 12AA of the Income-tax Act, 1961) and proceedings under section 143(1) of the Income-tax Act, 1961 cannot be treated as assessment proceedings." 3. The assessee i.e. Skill Development Society is a public charitable trust registered/approved under the provisions of Section 12A/12AA of the Income Tax Act, 1961. During the relevant assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on part of the CIT(A). The ld. D.R. relied upon the decision of Hon'ble Gujarat High Court in case of Mayur Foundation (2018) 9 SCC 1. 5. The ld. A.R. submitted that the preceding year is also covered in respect of assessment year which is pending assessment year so as return of income was not filed and the objects remained the same. The Assessing Officer should have allowed the amount received by way of voluntary contribution and should have not been added the same to the income of the assessee trust. Thus, the ld. A.R. relied upon the order of the CIT(A). The ld. A.R. further relied upon various decision which are as follows:- 1. Auto & Metals Engineers v. Union of India [1998] 229 ITR 399 (SC) 2. Sansthan Shree Eknath Maharaj Vishwa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... No. 5905/Mum/2019 (Mumbai - Tribunal) 6. We have heard both the parties and perused all the relevant materials available on record. The assessee has made application for registration on 25-10-2019 and the approval was granted on 30-01-2020. The proviso to section 11 subsection 2 will apply on the date of approval of pending proceeding and since the CPC proceeded on the date of 27-06- 2023, the approval was already granted and thus the proviso will apply in the present assessee's case. These submissions of the ld. A.R. appears to be justifiable as there was no change of any objects and activities of the trust for assessment year 2020-21 and that also of assessment year 2019-20. Thus, the decisions cited by the ld. A.R., when the entire proc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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