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2017 (3) TMI 48 - BOMBAY HIGH COURTEligibility to registration granted u/s 12AA - revocation/ cancellation of the registration as the Respondent-Institutions do not satisfy the meaning of charitable purpose as given in Section 2(15) - ITAT allowed claim - Held that:- Nothing has been shown to us as to how the impugned order of the Tribunal is not in accordance with law. The exercise of power under Section 12AA(3) of the Act can only be done, if atleast one of the two conditions specified therein, are found to be satisfied by the Commissioner of Income Tax. This satisfaction of any of the two conditions, Revenue is not been able to show. On plain reading of Section 12AA(3) of the Act, it is self evident that the power can only be exercised to cancel the registration only for the two breaches which are mentioned therein. This is not so in the present facts. Thus, no fault can be found with the impugned order setting aside the order of the Commissioner of Income Tax, cancelling the registration granted to the Respondent-Assessee. - Decided in favour of assessee
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