Assessment Remanded Because Section 12A Registration & Condonation Issues Were Still Pending

Shimoga Urban Development Authority Vs ITO (ITAT Bangalore) Urban Development Authority Wins Fresh Chance: ITAT Remands 11/12/13 & GPU Exemption Issue- CIT(A) Wrong on 12A Application Timing; AO Must Reassess Post 119(2)(b) Outcome Assessee, an Urban Development Authority, filed NIL returns & sought set-off of losses, but AO denied exemption u/s 11 holding that Assessee had no valid 12A registration for relevant years & that its income was commercial. CIT(A) upheld denial, noting registration u/s 12AA dated 14.05.2020 applied only from AY 2020-21 & proviso to s.12A(2) could no...