TaxTMI 
TaxTMI 
TaxTMI 
2021 (8) TMI 744
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....milar except variation of figure of corpus donation, therefore with the consent of parties, both the appeals were clubbed, heard and are decided by common order. For appreciation of facts, the appeal for A.Y. 2008-09 was treated as lead case. The assessee raised the following grounds of appeal:- "1. The ld.AO erred in not granting exmpetion u/s11 of I.T. Act 1961 and determining total income at Rs. 2,90,700/- and levying tax there upon as AOP. 2. The Hon'ble CIT(A) erred in holding that assessee is not eligible for benefit of income being exempted u/s 11 of I.T. Act 1961. 3. The ld.AO ought to have accepted income returned at Rs. NIL and held income exept u/s 11 11 of I.T. Act 1961. 4. The learned authorities ought to have held ....
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....efore the AO, while, registration was granted on 09/05/16 and on such date, proceedings were pending before the AO' and has retrospective effect as held in SNDP Yogam (2016) (Coch-Trib), hence, reassessment made u/s 147 is null & void and is liable to be quashed. 3. That the ld. CIT(A) has erred in confirming the action of the AO in denial of expetion claimed u/s 11 without bringing any finding that the objects/activities of the assessee trust for the A.Y. 11-12 has been changed as compared to the objects/ activities for the subsequent AYs, in which the ld AO has allowed the exemption u/s 11, as held in Surat City Gymkhana (2008) (SC), Sree Sree Ramkrishna Samity (2015) (Kol-Trib.). 3. Brief facts of the case are that the assessee is a t....
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....e as per the Proviso to section 12AA(2), when the application of the trust is pending registration, the registration will apply to the pending assessment. The plea of the assessee was not accepted by the ld CIT(A) by taking view that before granting the registration under section 12AA, the assessment for AY 2008-09 was completed on 31.03.2015 and for AY 2011-12 assessment completed on 27.03.2015. Further aggrieved the assessee has filed present appeal before Tribunal. 5. We have heard the submission of learned AR for the assessee and the learned CIT-DR for the Revenue. The learned AR for the assessee submits that the assessee is a charitable trust. The assessee is registered with Sub-Registrar, Bhatapara, Chhattisgarh. The assessee initial....
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....earned DR for the Revenue prayed for the dismissal of the appeals of the assessee. 7. We have considered the rival submissions of the parties and have gone through the orders of the lower authorities. In our view the short question for our consideration is whether the ld. CIT (A) is justified in confirming the AO action, for both the assessment years under consideration, in assessing the corpus of building donation as incomes of the assessee. For appreciation of facts the same is reproduced below: "[(2) Where an application has been made on or after the 1st day of June, 2007, the provisions of sections 11 and 12 shall apply in relation to the income of such trust or institution from the assessment year immediately following the financial....
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....her substantive conditions. However, the power of condonation of delay in seeking registration was not available." 9. The first proviso to section 12A(2) was brought in the statute only as a retrospective effect, with a view not to affect genuine charitable trusts and societies carrying on genuine charitable objects in the earlier years and substantive conditions stipulated in section 11 to 13 have been duly fulfilled by the said trust. The benefit of retrospective application alone could be the intention of the legislature and this point is further strengthened by the Explanatory Notes to Finance (No.2) Act, 2014 issued by the Central Board of Direct Taxes vide its Circular No. 01/2015 dated 21.1.2015. Apparently the statute provides that....
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....ention of the amendment to section 12A of the Act. If no judicious or a liberal view is not taken either by the assessing authority or the appellate authority as in the case under consideration, the very purpose for which such an amendment to section 12A would be defeated. 12. We find that similar view was taken by Coordinate bench in Badhte Kadam Vs DCIT (2020) 203 TTJ (Raipur) 597 and Kolkata Bench of Tribunal in case of Sree Sree Ramkrishna Samity vs D CIT [2016] 156 ITD 646/[2015] 64 taxmann.com 330 where it was held that amendment to Section 12A w.e.f. 01.10.2014 is retrospective. The relevant finding of the Hon'ble Kolkata Bench in case of Sree Sree Ramkrishna Samity (supra) read as follows: "6.10. We hold that it is an establi....