Benefit of exemption u/s 11 cannot be denied in case of deemed registration u/s 12A

The Bengal Chamber of Commerce & Industry Vs ITO (ITAT Kolkata)

Conclusion: Order under section 143(1) denying benefit of exemption under section 11 in case of granting of deemed registration by CIT after expiry of time limit of six months was contrary to the legal principles and thus, rejection of assessee’s application for rectification under section 154 was invalid.

Held: In the instant case, AO rejected assessee’s rectification application

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