https://www.taxtmi.com/caselaws?id=470026 Exemption under Section 11 of the Income-tax Act, 1961 depends on valid registration or approval under Section 12AA being effective for the relevant assessment year. The material states that no such approval existed for assessment year 2022-23, while the provisional approval relied upon was granted subsequently and operated prospectively from assessment year 2025-26. As no material established that the provisional approval applied retrospectively to assessment year 2022-23, the statutory condition for claiming Section 11 exemption was not satisfied, and the exemption claim was denied. en-us Thu, 13 Mar 2025 00:00:00 +0530 Mon, 13 Jul 2026 18:58:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470026 Exemption under Section 11 of the Income-tax Act, 1961 depends on valid registration or approval under Section 12AA being effective for the relevant assessment year. The material states that no such approval existed for assessment year 2022-23, while the provisional approval relied upon was granted subsequently and operated prospectively from assessment year 2025-26. As no material established that the provisional approval applied retrospectively to assessment year 2022-23, the statutory condition for claiming Section 11 exemption was not satisfied, and the exemption claim was denied. Case-Laws Income Tax Thu, 13 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470026