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TMI Blog2019 (10) TMI 741X X X X Extracts X X X X X X X X Extracts X X X X ..... e Act. A perusal of the reasoning of the Assessing Officer would clearly indicate that he has completely overlooked the impact of the first proviso to Section 12A as also the fact that the proviso to Section 10(23)C had no application to a case that was covered by Section 10(23)C (iiiab) under which category, the petitioner had claimed exemption. Ext.P2 assessment order cannot be legally sus ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt passed in relation to the petitioner for the assessment year 2016-2017 under the Income Tax Act. The main contention urged by the learned counsel for the petitioner is that while passing Ext.P2 assessment order, the assessing authority did not consider the issue of exemption claimed by the petitioner in its true legal perspective. It is pointed out that while the exemption claimed under Section ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... clearly made the provisions of Sections 11 and 12 applicable to the income received by an assessee who had been granted registration under Section 12AA, in any assessment year for which assessment proceedings were pending before the Assessing Officer as on the date of obtaining such registration. It is stated that the registration was obtained in the assessment year 2017-2018, and therefore, by vi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ld clearly indicate that he has completely overlooked the impact of the first proviso to Section 12 A of the Income Tax Act as also the fact that the proviso to Section 10(23)C had no application to a case that was covered by Section 10(23)C (iiiab) under which category, the petitioner had claimed exemption. Under such circumstances, I am of the view that Ext.P2 assessment order cannot be legally ..... X X X X Extracts X X X X X X X X Extracts X X X X
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