https://www.taxtmi.com/caselaws?id=456772 ITAT Rajkot held that a trust could claim exemption under section 11(1) through the proviso to section 12A(2) for assessment year 2009-10. The trust obtained registration under section 12AA in 2010 effective from AY 2011-12. Although the original assessment under section 143(3) was completed before registration, proceedings were reopened under section 263. The tribunal ruled that since revision proceedings were pending when registration was granted, the retrospective benefit of exemption applied. The proviso to section 12A(2) was designed to protect genuine charitable trusts from hardship in preceding years after receiving registration. Appeal was partly allowed. en-us Wed, 17 May 2023 00:00:00 +0530 Tue, 13 Aug 2024 19:58:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456772 ITAT Rajkot held that a trust could claim exemption under section 11(1) through the proviso to section 12A(2) for assessment year 2009-10. The trust obtained registration under section 12AA in 2010 effective from AY 2011-12. Although the original assessment under section 143(3) was completed before registration, proceedings were reopened under section 263. The tribunal ruled that since revision proceedings were pending when registration was granted, the retrospective benefit of exemption applied. The proviso to section 12A(2) was designed to protect genuine charitable trusts from hardship in preceding years after receiving registration. Appeal was partly allowed. Case-Laws Income Tax Wed, 17 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456772