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TMI Blog2017 (1) TMI 452X X X X Extracts X X X X X X X X Extracts X X X X ..... circumstances of the case, the ld. CIT(A) has erred both on facts and in law in denying exemptions u/s. 11 / 12 of the Income Tax Act, 1961 on the ground that appellant had not been granted Certificate of Registration u/s. 12A of the Act. 3. On the facts and circumstances of the case, the ld. CIT(A) has erred in not appreciating that appellant is eligible for exemption u/s. 11/12 of the Act as Tribunal vide order dated 2.11.2010 directed the CIT to grant Certificate of Registration u/s. 12A of the Act. 4. On the facts and circumstances of the case, the Ld. CIT(A) has erred in confirming income of Rs. 1,58,27,052 though the appellant had been given benefit of section 11/12 for AY 2010-11 and AY 2011-12 on the basis of ITAT order. 5. T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eligible for exemption u/s. 11. Thus, excess of income over expenditure amounting to Rs. 1,58,27,052/- (Rs. 16042305 - 215253) was treated as profits from business and professional and added back to the income of the assessee. Accordingly, the AO assessed the income of the assessee at Rs. 1,58,27,050/- vide his order dated 16.3.2015 passed u/s. 143(3) of the I.T. Act, 1961. 3. Against the assessment order, the asseessee preferred an appeal before the Ld. CIT(A), who vide his impugned order dated 17.11.2015 has dismissed the appeal of the assessee by observing that the AO has denied the exemption claimed by the assessee u/s. 11/12 of the I.T. Act on the ground that the assessee society is not registered u/s. 12AA of the I.T. Act for the re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arh wherein the following order has been passed:- "Order u/s. 154 of the I.T. Act, 1961 In continuation to Order u/s. 12AA dated 20.5.2015 passed by the Commissioner of Income Tax (Exemptions), Chandigarh, the year from which the benefit of registration u/s. 12AA needs to be given inadvertently written as "Assessment Year 2015-16" instead of "Assessment year 2009-10" in the case of M/s RKKR Shiksha Foundation, Plot No. 69, Sector-53, Village Waziarabad, Gurgaon, PAN No. AAECR3310B. 2. The mistake being apparent from record is rectified. The benefit of registration u/s. 12AA now may be read as from "Assessment Year 2009-10." 5.1 Ld. Counsel of the assessee during the hearing also filed the copy of the decision dated 1.9.2016 passed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Haryana at Chandigarh, the Appeal of the assesee may be allowed and orders of the lower authorities may be set aside. 6. On the other hand, Ld. DR relied upon the orders of the authorities below. 7. We have heard both the parties and perused the records especially the rectification order dated 19.8.2016 and decision dated 1.9.2016 of the Hon'ble Punjab and Haryana High Court at Chandigarh. We find that the addition of Rs. 1,58,27,052/- is confirmed by the Ld. CIT(A) solely on the ground that the assessee had not been granted Certificate of Registration u/s. 12A of the I.T. Act, 1961. We find that Ld. CIT(E) vide his order dated 19.8.2016 passed u/s. 154 of the Act has rectified the mistake by stating that the benefit of registration u/s. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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