9911796707
TMI Blog2024 (12) TMI 1387X X X X Extracts X X X X X X X X Extracts X X X X ..... covers the correct principle of law which has to be applied retrospectively. To put it differently, even where an earlier decision of the Court operated for quite sometime, the decision rendered later on would have retrospectively effect, clarifying the legal position which was earlier not correctly understood. In view of the above authoritative pronouncements, we are of the view that the CIT(A) was not correct in dismissing the appeal of assessee. We, therefore, set aside the order of CIT(A) and direct the AO to allow benefit of exemption u/s 11 of the Act. This ground of assessee is allowed. - Shri Pawan Singh, Judicial Member And Shri Bijayananda Pruseth, Accountant Member For the Appellant : Shri Hiren R. Vepari, CA For the Respondent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tal Representative (ld. Sr. DR) for the revenue submitted that the Bench may decide the issue. 5. We have heard both the parties on this preliminary issue and note that there is a delay of only one day. Since office of AR was closed on 19.08.202, appeal was filed on 20.08.2024. Hence, we find that assessee was neither negligent nor deliberate in filing the present appeal before the Tribunal. Since the delay is only one day and appellant has given proper reasons, we condone the delay and admit the appeal for hearing. 6. Brief facts of the case are that the assessee filed its return of income for AY.2012-13 and claimed the benefit of exemption u/s 11 of the Act. The Central Processing Centre, Bangalore (in short, CPC ) denied the claim on the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the Hon ble Supreme Court which settles the law constitutes a mistake apparent from law within the meaning of section 154 of the Act. The issue relates to whether the order u/s 143(1)(a) ought to be rectified and the appellant be deemed to be registered u/s 12A of the Act, if its application for registration is not disposed of within six months, thereby giving the benefit of Section 11 of the Act in the light of decision in case of Society for Promotions of Education (supra). He referred to all details which are in the paper book and submitted that the assessee is an association subsisting for promotion of information technology in the region of South Gujarat. He has relied on the following decisions (i) B.V.K. Seshavataram vs. CIT (1994) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e contention of assessee because the decision of the Hon ble Supreme Court was delivered on 16.02.2016 and was not a part of record when return was processed by CPC. The Ld.AR has relied on various decisions cited supra to contend that the subsequent decision of Hon ble Supreme Court can validly form basis for rectifying an order of assessment u/s 154 of the Act. Such view has been taken by Hon ble Andhra Pradesh High Court in case of B.V.K. Seshavataram (supra). We also find that ITAT Raipur in case of N.R.Wires (P.) Ltd. (supra) held that since Tribunal s order was not in conformity with subsequent decision of Hon ble Supreme Court in Checkmate Services (P.) Ltd. vs. CIT (2022) 143 taxmann.com 178, said order suffered from mistake apparen ..... X X X X Extracts X X X X X X X X Extracts X X X X
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