2025 (3) TMI 227

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..... and making it applicable from AY 2009-2010 only cannot be attributed to the Appellant-Assessee. There is no reason given as to why the registration could not have been granted with effect from the date when the firm came into existence. In any case, the Appellant-Assessee is a Charitable Trust and was under a bona fide belief that the registration certificate would be granted from the date of its existence and it was on the basis of that bona fide belief that the claim was made. It was first year of the Appellant-Assessee. In our view, no case is made out for concealment of income or furnishing of inaccurate particulars of income since the application for registration u/s 12A was filed with the Respondent-Revenue and the same was on recor .....

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..... iled on 22 September 2008. In the said return of income, the Appellant-Assessee made a claim for exemption under Section 11 on the premise that the application made for registration in Form 10A would be granted from the day when the Trust came into existence. However, the CIT exemption issued Section 12A certificate on 31 March 2009 and in the said certificate, it was mentioned that registration is effective from 1 April 2008 i.e. Assessment year 2009-2010. 7. Since the registration certificate under 12A was given with effect from 1 April 2008 i.e. for the Assessment year 2009-2010, the Assessing Officer while making Assessment for 2008-2009 denied the benefit of Section 11 to the Appellant-Assessee. The said denial was confirmed by the Ap .....

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..... ssessee also undertook to file the audited accounts before 30 September 2008, which was duly done. However, the application dated 5 September 2008 came to be disposed of by the CIT (Exemption) only on 31 March 2009. The delay in disposing of the application and making it applicable from Assessment year 2009-2010 only cannot be attributed to the Appellant-Assessee. There is no reason given as to why the registration could not have been granted with effect from the date when the firm came into existence. 12. In any case, the Appellant-Assessee is a Charitable Trust and was under a bona fide belief that the registration certificate would be granted from the date of its existence and it was on the basis of that bona fide belief that the claim .....

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