https://www.taxtmi.com/caselaws?id=244795 The Tribunal set aside the orders of the AO and CIT(A) and directed a fresh assessment. The Tribunal held that exemption under Section 10(26AAB) is prospective from 1.4.2009, not retrospective from 1.4.2003. The Assessee was allowed exemption under Section 11 for the period from 1.4.2003 to 31.3.2009, following the Andhra Pradesh High Court's ruling. The Tribunal determined that license fees are considered income but required the AO to re-examine the Assessee's claim for exemption under Section 11. The Tribunal advised the CIT to grant registration under Section 12A/12AA to enable the Assessee to claim exemption. en-us Fri, 13 Dec 2013 00:00:00 +0530 Sat, 08 Mar 2014 08:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244795 The Tribunal set aside the orders of the AO and CIT(A) and directed a fresh assessment. The Tribunal held that exemption under Section 10(26AAB) is prospective from 1.4.2009, not retrospective from 1.4.2003. The Assessee was allowed exemption under Section 11 for the period from 1.4.2003 to 31.3.2009, following the Andhra Pradesh High Court's ruling. The Tribunal determined that license fees are considered income but required the AO to re-examine the Assessee's claim for exemption under Section 11. The Tribunal advised the CIT to grant registration under Section 12A/12AA to enable the Assessee to claim exemption. Case-Laws Income Tax Fri, 13 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244795