2014 (10) TMI 982

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....SPONDENT : SRI.M.V.SESHACHALA - SR.ADV FOR SRI. ARAVIND V.CHAVAN - ADV. J U D G M E N T The Revenue has preferred this appeal challenging the order passed by the Tribunal directing registration of the assessee under Section 12A of the Income Tax Act, 1961 (for short 'the Act') with effect from 1. 4.2003. 2. The assessee is one of the major port trust in the country. It was notified in the....

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....ay by refusing to condone the delay. Aggrieved by the said order, the assessee preferred an appeal to the Tribunal. The Tribunal after considering the material placed on record, the nature of activity performed by the assessee and after taking note of the fact that the assessee was enjoying the benefit of exemption from the provisions of the Act upto 1.4.2003 and subsequently they made an applicat....

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....endment, the object with which the trust is established, the judgments on which reliance is placed and later has rightly come to the conclusion that the delay is a bonafide one and therefore, it requires to be condoned. It has also taken note of the parliamentary legislation which was passed by the Government Major Ports. the nature of work the assessee is carrying on, the way in which they are pr....