Exemption u/s 11 - deemed grant of registration - The period of ...

Court Clarifies Six-Month Period Calculation u/s 12AA(2) of Income Tax Act; Tribunal's Misinterpretation Overturned.

September 1, 2022

Case Laws Income Tax HC

Exemption u/s 11 - deemed grant of registration - The period of six months referred in Section 12AA(2) has to be calculated from the end of the months in which the application u/s 12A was received and not from any other date. - Tribunal was not justified in applying Section 12AA(2) of the Act, 1961 in the facts of the present case and the order of CIT could not have been set aside on this ground. The decision of the Tribunal is based on a misreading and misunderstanding of Section 12AA(2) of the Act, 1961, its purport and scope. - HC

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Exemption u/s 11 - deemed grant of registration - The period of ...

Court Clarifies Six-Month Period Calculation u/s 12AA(2) of Income Tax Act; Tribunal's Misinterpretation Overturned.

September 1, 2022

Case Laws Income Tax HC

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