Exemptions u/s. 11 and 12 denied in absence of valid registration u/s. 12A: ITAT Bangalore

Doddaballapur Planning Authority Vs ITO (ITAT Bangalore) ITAT Bangalore held that benefit of exemptions under section 11 and 12 of the Income Tax Act cannot be granted without valid registration u/s. 12A/12AA. Accordingly, exemptions u/s. 11 and 12 denied in absence of valid registration under Income Tax Act. Facts- The assessee is a Town Planning authority constituted under the special act called The Bangalore Metropolitan Region Development Authority Act, 1985. The assessee filed its return of income for the AY 2019-20 belatedly on 29.11.2020. Thereafter, the said Return of Income was proces...