S. 12A Amendments on Timely Filing Apply from AY 2018-19, Not Retroactively: ITAT Allows Society’s Exemption [Read Order]

The tribunal observed that the amendments to Section 12A regarding the timely filing of returns apply only from Assessment Year (AY) 2018-19 and cannot be enforced retroactively

By Franklin Joshva - On March 14, 2025 4:29 pm - 2 mins read

Section 12A Income Tax Act - Income tax exemption for societies - ITAT - taxscan

The Nagpur Bench of the Income Tax Appellate Tribunal (ITAT) ruled that amendments to Section 12A of the Income Tax Act, 1961 concerning the timely filing of returns and audit reports apply prospectively from AY 2018-19. Shri Panchmurti Education Society (assessee), a charitable trust engaged in education, had initially been denied registration under Section 12AA…

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