https://www.taxtmi.com/caselaws?id=311001 The Tribunal allowed the appeal, directing the Assessing Officer (A.O.) to grant the exemption claimed by the appellant under sections 11 and 12 of the Income-tax Act, 1961. The appellant, governed by the Major Port Trusts Act, 1963, had initially filed a return without claiming the exemption due to the lack of registration under section 12AA. Upon receiving retrospective registration, the appellant filed a revised return. Despite the late filing, the Tribunal emphasized the retrospective effect of the registration and previous allowances of similar exemptions, leading to the overturning of the A.O.'s denial. en-us Thu, 23 Aug 2012 00:00:00 +0530 Fri, 01 Dec 2023 17:13:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311001 The Tribunal allowed the appeal, directing the Assessing Officer (A.O.) to grant the exemption claimed by the appellant under sections 11 and 12 of the Income-tax Act, 1961. The appellant, governed by the Major Port Trusts Act, 1963, had initially filed a return without claiming the exemption due to the lack of registration under section 12AA. Upon receiving retrospective registration, the appellant filed a revised return. Despite the late filing, the Tribunal emphasized the retrospective effect of the registration and previous allowances of similar exemptions, leading to the overturning of the A.O.'s denial. Case-Laws Income Tax Thu, 23 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311001