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Lady Kikabai Premchand Iyambail ... vs Income-Tax Officer, (Exempt),Ward - ... on 21 January, 2020
cites
Section 12 in The Income Tax Act, 1961 [Entire Act]
Section 12AA in The Income Tax Act, 1961 [Entire Act]
Shri.Krishnabai Ghat Trust,, Satara vs Income-Tax Officer,(Exemptions), ... on 3 May, 2019
I therefore, following the ratio of
decision in the case of Shri Krishnabai Ghat Trust Vs. ITO (Exemptions)
7
ITA No.1403/PUN/2019
(supra), hold that the assessee is eligible for exemption u/s 11 and 12 of the
Act. In view of the aforesaid, the grounds raised by the assessee are
allowed.
Section 12A in The Income Tax Act, 1961 [Entire Act]
Section 4 in The Income Tax Act, 1961 [Entire Act]
The Coinage Act, 2011
Commissioner Of Income Tax ... vs M/S Shree Shyam Mandir Committee on 23 April, 2018
8. At this juncture, it would be pertinent to note that the main object of proviso
to section 12A(2) is to liberally grant the benefit of registration when the trust is
otherwise engaged in genuine charitable activities and the registration has been
actually granted albeit after the close of the relevant period. Purpose of this
proviso is to benefit assessees in the given circumstances subject to the
fulfillment of other conditions. In such a situation, the object of the proviso is
furthered if its benefit is made available to the extended assessment
proceedings, being, the proceedings before CIT(A). As at the time of granting
registration by the ld. CIT (Exemptions) to the assessee, the appeal of the
assessee was pending before the ld. CIT(A), in my considered opinion, the
benefit of first proviso to section 12A(2) ought to have been granted. My view is
fortified by the judgment of Hon'ble Rajasthan High Court in CIT (Exemptions)
Vs. Shree Shyam Mandir Committee (2018) 400 ITR 466 (Raj.) in which it has
been held that "an assessment proceedings which is pending in appeal before
the appellate authority should be deemed to be "assessment proceedings
pending before the AO." within the meaning of the term as envisaged under the
proviso. It follows there from that the assessee which obtained registration
u/s.12AA of the Act during the pending of appeal was entitled for exemption
claimed u/s.11 of the Act". The additional ground thus raised is allowed by
holding that the assessee would be entitled to exemption u/ss. 11 and 12 of the
Act for the year under consideration on the raison d'etre that the registration
was, in fact, granted to the assessee u/s.12AA during the pendency of
proceedings before the ld. CIT(A).
The Finance Act, 2018
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