2012 (8) TMI 1223

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.... confirmed by the CIT(Appeals). 2. Facts apropos are that assessee had filed return for the impugned assessment year on 31.10.2006, wherein an income of Rs. 74,63,59,100/- was admitted. Assessee is a body governed by the provisions of Major Port Trusts Act, 1963, which is a Central Act. In the original return filed by the assessee for impugned assessment year, it had not claimed any exemption under Section 11 of the Act. Thereafter, on 31.3.2008, assessee had filed a revised return, but in such return also no such exemption was claimed. Thereafter, on 28.1.2009, assessee filed another revised return, inter alia, claiming exemption under Section 11 of the Act. Assessing Officer was of the opinion that in the original return, assessee hav....

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....s year relevant to impugned assessment year. As per the CIT(Appeals), an assessee could not claim a deduction other than through a valid revised return. Such a valid revised return having not been filed by the assessee, its claim for exemption under Sections 11 and 12, relying on the order of this Tribunal for assessment years 2003-04, 2004-05 and 2005-06, could not be accepted. He, therefore, confirmed the order of the A.O. rejecting the claim of exemption under Section 11 of the Act. 4. Now before us, learned A.R., strongly assailing the orders of authorities below, submitted that CIT(Appeals) fell in gross error in coming to a conclusion that facts which existed in preceding assessment years were different from those in the impugned a....

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....a body found by Central Government under Major Port Trusts Act, 1963. Assessee had filed return for the impugned assessment year originally on 31.10.2006. At that point of time it had filed such a return, it was not having registration under Section 12AA of the Act. Such a registration was granted to it only on 16.6.2008, but admittedly, the registration was given with retrospective effect from 1.4.2002. At the point of time, when the assessee was filing the return, in no way it could have claimed exemption under Sections 11 and 12 since registration under Section 12AA of the Act was a primary requirement for making such a claim. Assessee received registration under Section 12AA on 16.6.2008 by the order of DIT(Exemptions) and thereafter fi....

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....ch a claim in the original return. Assessee received a right to claim such exemption by virtue of the order of Director of Income Tax (Exemption), who is also a part of the revenue machinery. Therefore, it ought not have been denied such an exemption for a technical reason alone. That apart, the case for impugned assessment year is very similar for that of assessment year 2005-06 where on assessee's appeal, CIT(Appeals) by virtue of his order dated 23.3.2011 had held it to be eligible for the claim of exemption under Sections 11 and 12 of the Act. On Revenue's appeal, against such order, it was held by this Tribunal on 7th September, 2011 at paras 6 and 7 of I.T.A. Nos. 1152 to 1154/Mds/2011 as under:- "6. We heard both sides in de....