Trust Entitled to Sec. 11-12 Exemption If 12A Registration Granted During Pending Assessment

Sirur Shikshan Prasarak Mandal Vs ACIT (ITAT Pune) The ITAT Pune has provided a significant clarification regarding the tax treatment of charitable trusts, offering retrospective relief in a recent appeal by Sirur Shikshan Prasarak Mandal against an order from the Addl./JCIT(A)-1, Chennai for Assessment Year 2021-22. The core issue involved the disallowance of Rs. 46,79,75,225/-, denying the trust the benefit of Section 11 of the Income Tax Act, 1961. The disallowance was primarily due to the trust not mentioning its 12AB registration details and the belated e-filing of the audit report i...