Assessment Reopening Invalid: Trust Registration Active, AO Misinterpreted CBDT Circular on Section 12A(2) Provisos' Retrospective Application. https://www.taxtmi.com/highlights?id=55731 Validity of reopening of assessment - non-registration of trust - registration certificate was in operation at the time the notices u/s 148 were issued - AO has not properly understood the binding circular issued by CBDT, which clearly explains the meaning of provisos inserted in sec.12A(2) of the Act. Accordingly these provisos shall have retrospective operation. - AT en-us Thu, 03 Dec 2020 11:44:18 +0530 Thu, 03 Dec 2020 11:44:18 +0530 TaxTMI RSS Generator Assessment Reopening Invalid: Trust Registration Active, AO Misinterpreted CBDT Circular on Section 12A(2) Provisos' Retrospective Application. https://www.taxtmi.com/highlights?id=55731 Validity of reopening of assessment - non-registration of trust - registration certificate was in operation at the time the notices u/s 148 were issued - AO has not properly understood the binding circular issued by CBDT, which clearly explains the meaning of provisos inserted in sec.12A(2) of the Act. Accordingly these provisos shall have retrospective operation. - AT Highlights Income Tax Thu, 03 Dec 2020 11:44:18 +0530 https://www.taxtmi.com/highlights?id=55731