Capital Spending on School Infrastructure is Application of Income: ITAT Delhi

Spreading Smile Vs ITO (ITAT Delhi) ITAT Allows Section 11 Exemption as Final 12AB Registration Related Back to Original Application; Charitable Trust Entitled to Tax Exemption Since Later 12AB Approval Covered Relevant Assessment Year; Section 11 Benefit Cannot Be Denied Where Final Registration Is Granted on Remanded Application. The Income Tax Appellate Tribunal (ITAT), Delhi Bench, allowed the appeal filed by the assessee trust for Assessment Year 2022-23 and held that the trust was entitled to exemption under Sections 11 and 12 of the Income-tax Act, 1961, despite the fact that final regi...