Applicability of section 13 during registration stage u/s. 12A unjustified: ITAT Ahmedabad

Jito Bhavnagar Chapter Foundation Vs CIT (Exemption) (ITAT Ahmedabad) ITAT Ahmedabad held that the applicability of Section 13 of the Income Tax Act should only be examined during assessment and not at the registration stage under Section 12A of the Income Tax Act. Accordingly, CIT(E) directed to evaluate the application afresh. Facts- The assessee, a company registered u/s. 8 of the Companies Act, 2013, was provisionally registered u/s. 12(1)(ac)(vi) w.e.f. 02-10-2021according to which the provisional registration was approved from A.Y. 2022-23 to A.Y. 2024-25. The assessee filed an applicati...