AO held that the assessee got registration under S 12A w.e.f. 01.04.2011 only, therefore, it was also not eligible for exemption of its income under S 11/12 for year under consideration which was affirmed by CIT (A) .Tribunal held that, assessment order was passed on 29^th January, 2014 and amendment was made in S. 12A by Finance Act, 2014 by inserting a provision w.e.f. 1^st October, 2014. Registration was granted on dated 09-04-2012 which was effective from 01-04-2011 and assessment order was passed on 29-01-2014, therefore, in present case, assessment proceedings could be construed as pending as on date of order u/s 12AA.Amendment made by Finance Act, 2014 by inserting a proviso in S. 12A should be construed retrospectively in operation because legislator in its wisdom had brought this proviso to prevent genuine hardship which could be caused on assessee due to non-registration u/s 12A. Accordingly the assessee should be entitled to get benefit of registration, therefore, orders passed by both AO and CIT(A) was set aside and remanded case to AO to decide afresh. (AY. 2011-12)