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2012 (11) TMI 217 - ITAT RANCHICancelation of Registration u/s. 12AA – Held that:- Condition precedent to cancellation of registration u/s. 12AA(3) of the Act are not satisfied because once registration is granted, Ld. CIT can cancel registration only if he satisfies that the activities of such Trust or institution are not genuine or are not been carried out in accordance with the objects of the Trust or institution - Merely because some amount has been spent by assessee society which is not in accordance with its aims and objects, at the time of giving exemption u/s. 11 & 12 of the Act, benefit of exemption could be denied to assessee for the said claim but it could not be the basis for cancellation of registration of assessee society - reasons given by Ld. CIT in the impugned order for cancellation of registration is not in accordance with law - cancellation of registration of assessee set aside.
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