Held that once exemption is denied\u00a0 and the registration is withdrawn the income of the trust should be assessed an\u00a0 AOP.\u00a0 Only surplus profit can be assessed. The Tribunal also held that as the application before CBDT for condonation of delay in filing Form No 10BB. The AO is directed to decide the issue of exemption after the order of the CBDT. (AY.2019-20,\u00a0 2020-21)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 11 : Property held for charitable purposes \u2013 Once exemption is denied and the registration is withdrawn the income of the trust should be assessed an AOP \u2013 Only surplus profit can be assessed \u2013 Application before CBDT for condonation of delay in filing Form No 10BB-The AO is directed to decide the issue of exemption after the order of the CBDT. [S. 12AA, 119, Form 10BB.] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-53928","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-e1O","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/53928","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=53928"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/53928\/revisions"}],"predecessor-version":[{"id":53929,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/53928\/revisions\/53929"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=53928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=53928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=53928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}