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TMI Blog2004 (7) TMI 601X X X X Extracts X X X X X X X X Extracts X X X X ..... e Educational Society was exempt from tax and hence it has not applied for registration under section 12AA of the Act. After introduction of section 10(23)( c ) of the Act, educational institutions, whose income is above Rs. 1 crore, has to obtain registration and seek approval for exemption. Admittedly, the annual receipt of the assessee till the assessment year 1999-2000 did not exceed Rs. 1 crore. However, in respect of the previous year relevant to the assessment year 2000-2001 the annual receipts having exceeded Rs. 1 crore, the assessee filed an application Form No. 56D for grant of exemption for the year 1999-2000. It may be noticed that Form No. 56D uses the expression "for the year............ According to the assessee, it is finan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xemption under section 10(23C)( vi ) is pending with the Income-tax Department and it is not proper to deny the exemption. A copy of the application filed in Form No. 56D was also placed on record before the learned CIT(A). Several other contentions were also urged before the learned CIT(A) with which we are not concerned in this appeal since those issues were not subject-matter of further appeal before the Tribunal. 4. Learned CIT(A) however observed that the assessee-society having not got the approval, the Assessing Officer was well within his rights to deny the exemption available under section 10(23C)( vi ) of the Act. 5. Further aggrieved, assessee is in appeal before us. Learned counsel appearing on behalf of the assessee sub ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ever mentioned that the figure 1999-2000 denotes the assessment year. On the contrary, it can only be understood as financial year referable to the assessment year 2000-01 in view of the fact that the assessee s annual receipts till the earlier year did not exceed Rs. 1 crore ( sic ) mark and there was no need for an assessee to make an application in Form No. 56D for the earlier years. Under such circumstances, principles of natural justice demand that the concerned officer should seek clarification from the assessee instead of lodging the application arbitrarily and without application of mind. The least he could have done is to inform the assessee. Even the so-called decision to lodge the application was not informed to the assessee. In ..... X X X X Extracts X X X X X X X X Extracts X X X X
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