https://www.taxtmi.com/caselaws?id=425082 The High Court ruled in favor of the petitioner, a Port Trust, in a case challenging the rejection of its request for registration under Section 12AA of the Income Tax Act, 1961. The delay in granting registration was attributed to the belated application by the petitioner, which was eventually approved by the Commissioner of Income Tax. The court held that the Joint Commissioner of Income Tax's grounds for rejection were unfounded, emphasizing the petitioner's compliance with filing revised returns. Following precedent, the court directed the Deputy Commissioner of Income Tax to process the petitioner's revised returns and consider the exemption claim under Section 12AA without requiring an application for condoning the delay. en-us Tue, 12 Jul 2022 00:00:00 +0530 Fri, 15 Jul 2022 09:14:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425082 The High Court ruled in favor of the petitioner, a Port Trust, in a case challenging the rejection of its request for registration under Section 12AA of the Income Tax Act, 1961. The delay in granting registration was attributed to the belated application by the petitioner, which was eventually approved by the Commissioner of Income Tax. The court held that the Joint Commissioner of Income Tax's grounds for rejection were unfounded, emphasizing the petitioner's compliance with filing revised returns. Following precedent, the court directed the Deputy Commissioner of Income Tax to process the petitioner's revised returns and consider the exemption claim under Section 12AA without requiring an application for condoning the delay. Case-Laws Income Tax Tue, 12 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425082