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TMI Blog2018 (6) TMI 1808X X X X Extracts X X X X X X X X Extracts X X X X ..... eemed approval, had relied on the full Bench decision of Hon'ble Allahabad High Court in the case of CIT Vs. Muzafar Nagar Development Authority, 372 ITR 90. Reference was made vide Para 24 of the order of Tribunal. Further, vide para 26 relying on the ratio laid down by the larger Bench of the Hon'ble Allahabad High Court (supra.), the issue of deemed approval was denied to the assessee and assessee was held to be not entitled to the aforesaid deduction claimed under section 10(23C)(vi) of the Act, in the absence of approval being granted by prescribed Authority. The Tribunal also upheld the order of Assessing Officer in treating the assessee as AOP instead of an institution solely existing for imparting education. 3. The plea of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Stock Exchange Limited, 305 ITR 227 is relevant. The applicant thus submitted that an apparent error has crept in the appellate order of the Tribunal dated 30.11.2015. As such, it is a sincere prayer of the applicant that the order dated 30.11.2015 may please be recalled on this limited issue of deemed approval. 4. During the course of hearing of miscellaneous application, the Ld. AR for the applicant took us through the contents of miscellaneous application and pointed out that earlier application for approval under section 10(23C)(vi) of the Act was filed on 22.10l.2002 along with return of income for assessment year 2002-03. This plea of the applicant is noted at Para 20 of the order of Tribunal. He further pointed out that Authoritie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... der dated 30.11.2015, in the bunch of appeals filed by assessee had decided the issue of granting approval under section 10(23C)(vi) of the Act. Factual aspects of the case of assessee were noted by the Tribunal in Para 9 onwards. The Tribunal first dealt with the issue of reassessment under section 147/148 of the Act. Thereafter, the issue of deemed approval was taken up by the Tribunal vide para 23. The assessee had filed application before Commissioner for granting approval under section 10(23C)(vi) of the Act vide application dated 31.03.2006. The plea of the applicant before Tribunal was that since the Commissioner had failed to pass an order within a period of six months from the date of filing of the application then deemed approval ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... education." 9. The case of the applicant vide present miscellaneous applications is that the said decision of the larger bench of the Allahabad High Court stands overruled by the Hon'ble Supreme Court of India vide decision in the case of CIT Vs. Society for The Promotion of Education(supra.). The Relevant findings of the Hon'ble Supreme Court are as under: "3. The short issue is with regard to the deemed registration of an application under Section 12AA of the Income Tax Act. The High Court has taken the view that once an application is made under the said provision and in case the same is not responded to within six months, it would be taken that the application is registered under the provision. 4. The learned Additional ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... de under section 12AA of the Act which is parameteria to provisions of section 10(23C)(vi) of the Act, we hold that since the Commissioner has not disposed off application dated 31.03.2006 within period of six months, the registration is deemed to be granted to the assessee w.e.f. 30.09.2006 i.e. after expiry of six months from the date of making application. Hence, applicant is entitled to grant deduction under section 10(23C)(vi) of the Act w.e.f 30.09.2006 which falls within assessment year 2007-08. Thus, Miscellaneous Application No. 49/PUN/2016 is allowed. 11. However, Miscellaneous Applications No. 46 to 48/PUN/2016 relating to assessment year 2002-03 to 2004-05 are dismissed, since the application before Commission was filed for th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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