Deduction u/s 10(23)(c) & 12 a

This query is : Resolved

CA ANIL D. SARAF (Querist)
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31 May 2012 A registered Educational Trust was claiming Deductions u/s 10 (23)(c) vi since last three financial years. Now the Trust has applied for 12 A certificate and 80-G exemption certificate.
The CIT in his Order ask the clarification from the Assessee that in case of registration U/S 12 is granted, the assessee will not be liable to claim exemption of income u/s 10 (23c) for the earlier years also.
Is it lawfull?
If the 12 A registration applicable with retrospective effect, the deductions u/s 10 (23c) claimed will be dis-allowed and no deduction u/s 12 A will be alloed for those years.
Kindly clarify whether the contention of CIT is right.

Soumitra Basu

Soumitra Basu (Expert)
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01 June 2012 The Ld. CIY can tell that in addition to exemption under section 10(23c) you shall not be eligible for exemption under section 11 & 12 for pre registration period. If it is the final order of the Ld CIT then you may prefer an appeal before ITAT.

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