https://www.taxtmi.com/caselaws?id=780858 ITAT held that the assessee, having obtained registration under s.12AA during assessment, is entitled to exemption under ss.11/12 for AY 2018-19 by operation of the proviso to s.12A(2). The tribunal found the proviso (effective 01.10.2014 and applicable to the year in issue) applicable and set aside the CIT(A)'s reasoning. ITAT directed the AO to verify records, allow ss.11/12 exemption to the extent admissible after computation and opportunity to the assessee, and remanded the matter for fresh adjudication. Appeal allowed for statistical purposes. en-us Wed, 24 Sep 2025 00:00:00 +0530 Fri, 07 Nov 2025 08:37:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780858 ITAT held that the assessee, having obtained registration under s.12AA during assessment, is entitled to exemption under ss.11/12 for AY 2018-19 by operation of the proviso to s.12A(2). The tribunal found the proviso (effective 01.10.2014 and applicable to the year in issue) applicable and set aside the CIT(A)'s reasoning. ITAT directed the AO to verify records, allow ss.11/12 exemption to the extent admissible after computation and opportunity to the assessee, and remanded the matter for fresh adjudication. Appeal allowed for statistical purposes. Case-Laws Income Tax Wed, 24 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780858