2022 (10) TMI 568

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....he case are that the assessee has filed its return of income on 19.02.2008 declaring Nil income. The same was processed u/s 143(1) of the Act, 1961 (in short 'Act') and converted to scrutiny. Subsequently, notice u/s 143(2) and 142(1) were issued. Consequent to repealing of the provisions of sec.10(29) from the statute by the Finance Act, 2002 with effect from 01.04.2003, the Agricultural Market Committees which hitherto were enjoying exemption of their income from tax have become taxable entities w.e.f. the assessment year 2003-04 onwards. Accordingly, keeping in view the detailed discussions made and decisions taken for the A.Ys 2003-04 and 2004-05 and also since departmental appeals are pending against such orders before the Hon'ble ITAT....

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....asst.year 2003-04 in the appellant's own case, wherein proceedings were concluded in appellant's favour under similar circumstances. 6. For these and others that may be urged at the time of appeal hearing, appellant prays the appeal may be allowed. 5. Ground No.1, 5 and 6 are general in nature, which do not require specific adjudication. 6. Ground No.2,3 and 4 are related to availability of registration u/s 12AA and exemption of income u/s 11 & 12 of the Act. The Ld.AR submitted before the Ld.CIT(A) that exemption u/s 11 of the Act is applicable for the A.Y.2006-07 as the department allowed exemption for the A.Y.2006-07 under the same section. Ld.CIT(A) found that the assessee has not raised specific ground before the CIT(A) ....

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....004-05, finalized the assessment for the impugned assessment year also. He submitted that the Hon'ble ITAT remanded the matter back to the AO to consider the submissions and allow the expenditure as allowable one. 8. The Ld.Counsel for the revenue relied on the decision of the Ld.CIT(A) and pleaded to uphold the order of the Ld.CIT(A) and dismiss the appeal of the assessee. 9. We have heard both the parties and perused the material placed on record. In the instant case, Hon'ble Tribunal vide it's order dated 14.07.2009 in I.T.A.No.129/Viz/2008 directed the Ld.CIT(A) to condone the delay in filing the applications for registration u/s 12AA of the Act and also grant registration with retrospective effect. Accordingly, registration u/s 1....