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2014 (2) TMI 420 - AT - Income TaxApplication for restoration of registration u/s 12A of the Act - Registration cancelled u/s 12AA(3) of the Act - The basic of cancellation of registration is the import of section 2(15), brought in by the legislature - the department has nowhere mentioned that "social inter-course among members" was not one of the objects of the trust, when it was originally formed on 04.10.1934 – Relying upon Income-tax Officer(E) Versus Khar Gymkhana [2014 (1) TMI 745 - ITAT MUMBAI ]- The DIT should have taken into consideration the orders of the higher judicial authority, at least on the aspect of reliance on newly inserted provision of section 2(15), which he ignored - none of the revenue authorities have made any observation/comments on the objects recited as early as 04.10.1934 of the assessee trust, the twin conditions existing in section 12AA(3) and ignoring the existing orders of the coordinate Bench in the case of the assessee - the revenue authorities have erred in cancelling the registration u/s 12AA(3) - the revenue authorities is directed to restore the registration as granted u/s 12A – Decided in favour of Assessee.
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