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TMI Blog2017 (1) TMI 1006X X X X Extracts X X X X X X X X Extracts X X X X ..... been issued to respondent till date, still exemption has been granted by authorities below. This is not consistent with requirement of Section 12A(1), as is applicable for relevant assessment year with which we are concerned.- Decided in favour of Revenue. - Income Tax Appeal Defective No. 55 of 2016 - - - Dated:- 12-1-2017 - Hon'ble Sudhir Agarwal And Hon'ble Ravindra Nath Mishra-II, JJ. For the Appellant : Alok Mathur For the Respondent : Desh Deepak Chopra ORDER 1. The delay in filing this appeal having been condoned vide order of date passed on Delay Condonation Application, let appeal be registered with regular number and old number shall also continued to be shown in bracket for finding out details of ca ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e registration under Section 12AA when after amendment of Section 12A and introduction of Section 12AA w.e.f. 01.04.1997, grant of registration is condition necessary to avail exemption under Section 11 of Income Tax Act, 1961 and trust and societies formed prior to these amendments have got themselves registered under Section 12A/12AA of the Income Tax Act, 1961 after these amendments. 6. It is not in dispute that respondent has applied for registration of society under Section 12A(1) of Act, 1961 long back and registration has not been granted by Commissioner till date. Be that as it may, it is not in dispute that Section 12A(1) has been amended by Finance Act, 2007 w.e.f. 01.06.2007 and now Section 12A(1) reads as under: 12A. Con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to any application made on or after the 1st day of June, 2007; (aa) the person in receipt of the income has made an application for registration of the trust or institution on or after the 1st day of June, 2007 in the prescribed form and manner to the Principal Commissioner or Commissioner and such trust or institution is registered under section 12AA; (b) where the total income of the trust or institution as computed under this Act without giving effect to the provisions of section 11 and section 12 exceeds the maximum amount which is not chargeable to income-tax in any previous year, the accounts of the trust or institution for that year have been audited by an accountant as defined in the Explanation below sub-section (2) of s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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