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Exemption: Application u/s 12A rejected as filed under wrong section. Reconsideration needed under correct section. Appeal allowed for future application.
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....The ITAT reviewed the rejection of an application filed in Form No.10A u/s 12A(1)(ac)(ii) of the Act. The CIT(Exemption) dismissed the application as non-maintainable, suggesting it should have been filed u/s 12A(1)(ac)(iii) instead. The ITAT found that the error was technical and allowed the appeal, remanding the matter for fresh adjudication. The assessee had since filed a new application under the correct section, and the ITAT deemed it appropriate to consider this application. The order of the CIT(Exemption) was set aside, and the matter was sent back for reevaluation.....