https://www.taxtmi.com/caselaws?id=397144 The ITAT allowed the appellant's appeal, affirming the retrospective application of the first proviso to section 12A(2) of the Income Tax Act, thereby extending the benefit of registration under section 12AA to relevant assessment years. The Tribunal dismissed the disallowances related to compensation paid to encroachers and amortization of lease rent, treating these as applications of income for charitable purposes. The technical challenge to the reopening of the assessment was deemed academic and infructuous. The order was pronounced on 28.07.2020, considering the Covid-19 pandemic's impact on procedural timelines. en-us Tue, 28 Jul 2020 00:00:00 +0530 Fri, 08 Nov 2024 13:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397144 The ITAT allowed the appellant's appeal, affirming the retrospective application of the first proviso to section 12A(2) of the Income Tax Act, thereby extending the benefit of registration under section 12AA to relevant assessment years. The Tribunal dismissed the disallowances related to compensation paid to encroachers and amortization of lease rent, treating these as applications of income for charitable purposes. The technical challenge to the reopening of the assessment was deemed academic and infructuous. The order was pronounced on 28.07.2020, considering the Covid-19 pandemic's impact on procedural timelines. Case-Laws Income Tax Tue, 28 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397144