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2013 (10) TMI 1384 - AT - Income TaxRegistration under section 12A(a) cancelled - Held that:- The Registration has been cancelled by CIT, Rajkot-2, Rajkot on the basis of amended provisions of Section 2(15) of the Income-tax Act, 1961; therefore we are of the considered opinion that the action taken by the ld CIT, Rajkot-2, Rajkot does not fall within the permissible limits of Section 12AA(3) of the Income-tax Act, 1961 and therefore, the impugned order is bad in law. Recently, ITAT Chennai "B" Bench, in the case of Madras Motor Sports Club v. DIT (Exemptions) [2013 (2) TMI 70 - ITAT CHENNAI ] in almost identical facts restored the registration, which was cancelled by ld DIT (Exemptions), observing that the nature of objects of the assessee cannot fluctuate in tandem with the quantum of receipts mentioned in the first proviso to section 2(15) of the Income-tax Act, 1961.
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