Exemption u/s 11 allowed & Penalty u/s 270A deleted – Registration u/s 12AA granted with retrospective effect

ITO (Exemptions) Vs Asandas B Murjani Education Trust (ITAT Ahmedabad)

Assessee Trust applied for registration u/s 12AA on 23.02.2019 for AY 2019-20. AO initially failed to process the application properly & rejected it on 19.09.2019 without considering Assessee’s submission. The Trust again applied on 23.10.2019, & registration u/s 12AA was finally granted on 20.03.2020, but effective only from AY 2020-21, not AY 2019-20.

Since no registration was shown for AY 2019-20, Assessee filed return as AOP(BOI) declaring nil income, but claimed exemption u/s 11(1)(c) based

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