https://www.taxtmi.com/caselaws?id=124712 HC held that registration under section 12AA does not automatically entitle an assessee to income exclusion from the previous year for tax liability determination. Registration merely provides eligibility to claim exemption that would otherwise be unavailable without registration. The court clarified that trusts or institutions lacking section 12AA registration cannot claim any exemption or exclusion of income from total income of the previous year, even if such income would otherwise qualify for exclusion under section 11 or 12 clauses. en-us Wed, 07 Feb 2007 00:00:00 +0530 Fri, 23 May 2025 11:37:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=124712 HC held that registration under section 12AA does not automatically entitle an assessee to income exclusion from the previous year for tax liability determination. Registration merely provides eligibility to claim exemption that would otherwise be unavailable without registration. The court clarified that trusts or institutions lacking section 12AA registration cannot claim any exemption or exclusion of income from total income of the previous year, even if such income would otherwise qualify for exclusion under section 11 or 12 clauses. Case-Laws Income Tax Wed, 07 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=124712