PRAVAT,PURULIA vs. CIT(EXEMPTIONS), KOLKATA. , KOLKATA

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ITA 917/KOL/2023Status: DisposedITAT Kolkata09 February 2024Bench: Shri Sanjay Garg (Judicial Member), Shri Girish Agrawal (Accountant Member)3 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the CIT's rejection was incorrect as there is no bar on filing the application for final registration before the expiry of the provisional registration period. The matter was restored to the CIT for fresh consideration.

What were the facts?

The assessee's application for registration under Section 12AA(1)(ac)(iii) was rejected by the CIT (Exemptions) as premature. The assessee had previously been granted provisional registration valid until AY 2026-27.

What were the issues?

Whether an application for final registration under Section 12A(1)(ac)(iii) is premature if filed before the expiry of the provisional registration period.

Which sections of the Income-tax Act were involved?

Section 12AA,Section 12AB,Section 12A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A” BENCH KOLKATA

order : February 09, 2024 आदेश / ORDER संजय गग�, �या�यक सद�य �वारा / Per Sanjay Garg, Judicial Member: The present appeal has been filed by the assessee against the rejection of his application for filing registration u/s 12AA(1)(ac)(iii) of the Income Tax Act (hereinafter referred to as the ‘Act’).

2.

The ld. CIT(Exemptions) has rejected the application holding the same to be prima facie not maintainable being premature. The ld. CIT(Exemptions) observed that the assessee earlier was granted provisional registration in Form 10AC 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. PRAVAT 3. We have heard the rival contentions and gone through the record. The assessee-trust 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 the Act is reproduced as under:

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