2022 (2) TMI 227

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....SYAL, VP : This appeal by the assessee arises out of the order passed by CIT(A)-2, Aurangabad on 05.12.2019 in relation to the assessment year 2016-17. 2. The assessee is aggrieved by the denial of exemption u/s 11 of the Income-tax Act, 1961 (hereinafter referred to as "the Act‟) which was denied by the authorities below on the ground that the registration granted subsequently by the ....

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.... The ld CIT(A) echoed the assessment order on this count. 4. I have heard both the sides in Virtual Court and gone through the relevant material on record. There is no dispute on the fact that the assessee filed its return of income on 17.01.2017 for the year under consideration. The approval was granted by the ld. CIT(E) u/s 12AA on 16.05.2017. At this stage, it is relevant to take note of the....

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....n the benefit of such registration will also be conferred to earlier years for which assessment proceedings are pending before the AO as on the date of such registration. The crucial words used in the second proviso are the pendency of assessment proceedings. To put it simply, if the assessment proceedings are pending before the AO when the registration is granted by CIT(E), the registration so gr....

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....Ors. (1998) 229 ITR 399 (SC) in which it has been held by the Hon‟ble Summit Court that the process of assessment commences with the filing of return or by issuance by the AO of notice to file a return and it culminates with the issuance of notice of demand u/s 156 of the Act. It is thus, manifest that the assessment proceedings commence with the filing of return and not when notice is issue....