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of <h1>New Amendments to Section 12A: Retroactive Tax Benefits for Trusts with Section 12AA Registration; Limits on Assessing Officer Actions</h1> Section 12A of the Income-tax Act is amended to include new provisos effective from October 1, 2014. These provisos state that if a trust or institution is granted registration under section 12AA, sections 11 and 12 will apply to income from property held under trust for any prior assessment year with pending proceedings, provided the trust's objectives remain unchanged. Additionally, the Assessing Officer cannot take action under section 147 for non-registration in preceding years. However, these provisions do not apply if the trust was denied registration or had its registration canceled under section 12AA.
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