https://www.taxtmi.com/caselaws?id=237660 A statutory mandi samiti formed under the relevant State enactment was treated as eligible for registration as a trust for income-tax exemption purposes, because its functions were directed to regulating agricultural produce and providing related facilities. The belated application for registration under section 12A/12AA was not treated as fatal, since registration was not required before 1.4.2003 and the exemption regime had changed thereafter. On that basis, condonation of delay and retrospective registration were upheld, and the revenue's challenge failed in light of the earlier binding decision on similar mandi samities. en-us Wed, 24 Jul 2013 00:00:00 +0530 Thu, 05 Jun 2014 11:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237660 A statutory mandi samiti formed under the relevant State enactment was treated as eligible for registration as a trust for income-tax exemption purposes, because its functions were directed to regulating agricultural produce and providing related facilities. The belated application for registration under section 12A/12AA was not treated as fatal, since registration was not required before 1.4.2003 and the exemption regime had changed thereafter. On that basis, condonation of delay and retrospective registration were upheld, and the revenue's challenge failed in light of the earlier binding decision on similar mandi samities. Case-Laws Income Tax Wed, 24 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237660