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Exemption u/s 11 Cannot Be Denied in u/s 143(1) Processing When Registration u/s 12AA Granted Retrospectively
Case Law Details
- Case Name
- ACIT Vs Bramas Industrial Service Association (ITAT Chennai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2019-20
- Courts
- All ITAT, ITAT Chennai
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ACIT Vs Bramas Industrial Service Association (ITAT Chennai)
Exemption u/s 11 Cannot Be Denied in u/s 143(1) Processing When Registration u/s 12AA Granted Retrospectively
The assessee, a non-profit industrial association incorporated under section 25 of the Companies Act, filed its return for AY 2019-20 declaring income of ₹10.50 lakh. While processing the return u/s 143(1), the CPC denied the exemption claimed u/s 11 and recomputed total income at ₹3.38 crore.
During appellate proceedings, the assessee submitted that at the time of filing the return it had not yet obtaine...
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