9911796707
TMI Blog2024 (6) TMI 971X X X X Extracts X X X X X X X X Extracts X X X X ..... inance Bill, 2020, there was a requirement of provisional registration as well as final registration for new as well as existing Institutions/Trusts. The assessee has been granted provisional registration up to AY 2026-27 and before the expiry of the period, the assessee has applied for final registration. However, ld. CIT (Exemption) has treated the said application as non-maintainable only on the ground for being premature and that the assessee has already been granted provisional registration valid till AY 2026-27. We therefore, hold that there is no bar in moving the application for final registration at the earliest possible. We accordingly, set aside the impugned order and restore the matter back to the file of ld. CIT (Exemption) to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tax (Exemptions), Kolkata erred in law and fact having not to grant the benefit of permanent Registration u/s 12AB of the Income Tax Act, 1961 of the Institution without any prejudice, merely quoting in the order that the assessee is treated as nonmaintainable under the Income Tax Act. Although, the Appellant complied necessary Rule 17A of Income Tax Rules, 1962 for application along with requisition documents for application and also complied the section 12AB(1)(b)(i) time to time for registration under section 12A(1)(ac)(iii) of the Income Tax Act, 1961. Therefore, your Appellant prays before the Hon ble Members of the Appellate Tribunal for direction to grant the permanent Registration u/s 12AB of the Income Tax Act, 1961 against decisi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee is a charitable Trust registered u/s 12AA of the Act vide order u/s 12AA(1)(b)(i) of the Act effective from 01.05.2018 (AY 2018-19). Subsequent to the amendments brought in the Act by Finance Bill, 2020, there was a requirement of provisional registration as well as final registration for new as well as existing Institutions/Trusts. The assessee has been granted provisional registration up to AY 2026-27 and before the expiry of the period, the assessee has applied for final registration. However, ld. CIT (Exemption) has treated the said application as non-maintainable only on the ground for being premature and that the assessee has already been granted provisional registration valid till AY 2026-27. 8. We find that under the si ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ...and such trust or institution is registered under section 12AB. 4. A perusal of the aforesaid provisions of section 12A(1)(ac)(iii) of the Act would reveal that where the trust or the institution was provisionally registered u/s 12AB of the act, the application for final registration can be made at least six months prior to the expiry of the period of provisional registration or within six months of the commencement of its activity, whichever is earlier, which means that the application for final registration has to be made at the earliest possible event i.e. either within six months of the commencement of the activities or at least six months prior to the expiry of the provisional registration. The aforesaid provision does not mean that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ations were sought from the assessee. The application filed by the assessee is premature as the earlier order in Form 10AC is still valid till A.Y. 2026-2027. Accordingly the application filed by the assessee is treated as non- maintainable and for statistical purpose the application filed by the assessee is treated as rejected . However, no adverse inference is drawn against the assessee. MANISH KANOJIA CIT (EXMPTION), KOLKATA 4. Verbatim same order is passed in ITA No. 967/KOL/2023 except variation in the date of the letter i.e. 15th June, 2023 instead of 14th June, 2023 mentioned in the order reproduced by us. Therefore, we do not deem it necessary to reproduce the relevant part of the impugned order in ITA No. 967/KOL/2023. 5. A perusal ..... X X X X Extracts X X X X X X X X Extracts X X X X
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