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TMI Blog2024 (2) TMI 1395X X X X Extracts X X X X X X X X Extracts X X X X ..... -27. As per the provisions of section 12A(1)(ac)(iii), the assessee-institution is supposed to apply for final registration after grant of provisional registration u/s 12AB of the Act. A persual of 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 m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... which was valid till A.Y 2026-27. He, therefore, held that the application of the assessee being premature was not maintainable and rejected the same. Being aggrieved by the above order of the ld. CIT(Exemptions), the assessee has come in appeal before us. 3. We have heard the rival contentions and gone through the record. The assessee-institution has been granted registration u/s 12AB(1)(a) of the Act for five years vide order dated 28.05.2021 which is valid from A.Y 2022-23 to A.Y 2026-27. As per the provisions of section 12A(1)(ac)(iii) of the Act, the assessee-institution is supposed to apply for final registration after grant of provisional registration u/s 12AB of the Act. The relevant part of the provisions of section 12A(1)(ac) of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... licant to move an application before the period of six months from the expiry of the provisional registration. What has been provided is that the application must be made before the expiry of six months from the date of expiry of final registration. There is no bar in moving the application at the earliest possible event, rather, i.e. it is expected from the assessee-trust to do so. In view of this, the impugned order of the ld. CIT(Exemptions) is set aside and the matter is restored to the ld. CIT(Exemptions) to consider the application of the assessee for final registration and grant the same if the same is otherwise so admissible to the assessee. 5. In the result, the appeal of the assessee is treated as allowed for statistical purposes ..... X X X X Extracts X X X X X X X X Extracts X X X X
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