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TMI Blog2024 (8) TMI 681X X X X Extracts X X X X X X X X Extracts X X X X ..... e allowed by the statute. That is why the said application has been duly considered by CIT by granting provisional registration in Form 10AC dated 05.04.2022 valid for 5 assessment years commencing from AY 2022-23 to 2026-27. As per the law, fresh registration could be granted only from the year in which application was preferred by the assessee. The said application made by the assessee for seeking fresh registration u/s 12AB of the Act is well within time allowed by CBDT. Hence the original registration obtained u/s 12AA dated 08.01.2001 would protect the assessee up to AY 2021-22 for claim of exemption u/s 11 of the Act as long as other conditions prescribed in section 11 to 13 of the Act have been fulfilled by the assessee. From AYs 202 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 of the Act. Infact the last date for filing return of income for AY 2021-22 u/s 139(4) of the Act was 31.03.2022 as per CBDT Circular No. 17/2021 dated 09.09.2021. Pursuant to the amendments brought in statute, all charitable trusts were supposed to apply for fresh registration u/s 12AB of the Act despite the fact that they were already holding registration u/s 12AA of the Act. Due date for preferring the application for seeking fresh registration u/s 12AB of the Act was extended by CBDT from time to time giving leeway to the assessee that the assessee trusts should not be put to any undue hardship. In the instant case, provisional registration u/s 12AB of the Act was indeed granted to the assessee by the ld Pr. CIT vide order in Form 10A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dit report in form 10B of the Act was filed beyond the prescribed due date i.e. 15.03.2022. In this regard, it is pertinent to note that AY 2021-22 being the first year of requirement of law to file the audit report in Form 10B 1 month prior to the due date of filing the return of income. Hence, apparently the assessee had not complied with this amended requirement of law, being the first year of such requirement. Now the moot question that arises for our consideration is as to whether non uploading of Form 10B within the date prescribed under the Act would become fatal to the claim of exemption u/s 11 of the Act ? This aspect has been duly considered by the coordinate bench decision of Ahmedabad Tribunal in the case of ITO Vs. Takshshila F ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the Act is well within time allowed by CBDT. Hence the original registration obtained u/s 12AA of the Act dated 08.01.2001 would protect the assessee up to AY 2021-22 for claim of exemption u/s 11 of the Act as long as other conditions prescribed in section 11 to 13 of the Act have been fulfilled by the assessee. From AYs 2022-23 to 2026-27, the assessee would be eligible for exemption u/s 11 of the At given the fresh registration obtained u/s 12AB of the Act. Hence, for AY 2021-22 the assessee would be duly entitled for claim of exemption u/s 11 of the Act. In view of the aforesaid observations and respectfully following the judicial precedents herein above, the grounds raised by the assessee are allowed. 5. In the result, the appeal of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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