2012 (7) TMI 903

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....e, Ld. CIT(A) was justified in allowing expenditure, when the assessee is not registered u/s 12A and is not entitled for exemption u/s 11 and therefore only those expenses can be allowed which are admissible as per chapter IV of the Income Tax Act. 2. The relevant facts are that the assessee with objects to promote sports got itself registered under the Societies Registration Act. It was granted exemption by CBDT u/s 10(23C) of the Income Tax Act till assessment year 2002-03. The provisions u/s 10 (23C) of the Act was omitted, therefore, it was decided by the respondent to seek registration u/s 12A of the Income Tax Act from assessment year 2003-04 onwards. The respondent applied for registration u/s 12A of the Act in the month of August, ....

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.... under sections 11 and 12 of the Act. 4. Ld. AR on the other hand tried to justify the first appellate order. 5. Considering the above submission we find that before the authorities below the respondent had claimed exemption on application of its income on the basis that the amount has been spent on its object and activities for promoting sports. It was pointed out that till the assessment year 2002-03 it was enjoying exemption u/s 10(23C) of the Act and on omission of the provision u/s 10(23C) of the Act it had applied for registration u/s 12A of the Act, the same could not be allowed due to some technicalities . The appellant again filed application for registration which has been granted w.e.f. 1.4.2005. It was contended that entire so....