Assessee-trust had been granted provisional registration in Form 10AC for five years.After grant of provisional registration, assessee applied for final registration-Commissioner (E) rejected application of assessee being premature and not maintainable. On appeal the Tribunal held that where trust or institution was provisionally registered under section 12AB, application for final registration could be made at least six months prior to expiry of period of provisional registration or within six months of commencement of its activity, whichever was earlier. There was no bar in moving application at earliest possible event. Order of Commissioner (E)is set aside and matter is restored to Commissioner (E) to consider the application of assessee for final registration and grant same, Matter remanded. Tribunal also held that after grant of provisional approval, application for final registration could not be rejected on ground that institution had already commenced its activities even prior to grant of provisional registration and under such circumstances, date of commencement of activity would be counted when an activity was undertaken after grant of provisional registration either under clause (i) or clause (iv) to first proviso to section 80G(5) (AY. 2022-23 to 2026-27)
Rajbalhat Cultural Circle. v. CIT (2024) 207 ITD 633 (Kol) (Trib.)
S. 12A : Registration-Trust or institution-Granted registration under
section 12AB for five years-There was no bar in moving application at earliest possible event, matter is restored to Commissioner (E) to consider application of assessee for final registration and grant same, if same was otherwise so admissible to assesse.[S.12AB,80G(5), Form No. 10AC]
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