Revised Tax Return Allowed for Exemptions Post-Section 12AA Registration; Highlights Importance of Proper Registration for Tax Benefits.

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Full Text of the Document

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....Exemption claimed in the revised return filed u/s 139(5) – When the assessee filed its original return of income at that time, assessee was not granted registration u/s 12AA and therefore, could not claim exemption u/s 11 and 12 of the Act in the original return of income - exemption allowed - AT....