Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2010 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2010 (9) TMI 782 - AT - Income TaxCancellation of registration u/s 12A – Charitable Institution - Assessee is a society registered under the Societies Registration Act, 1860 - registration under section 12A of the Act was granted - main object of the assessee society is to impart systematic education - runs a school for the students of Class 1st to Class 12th - AO contended that assessee has paid excessive lease rent to its founder-President and has also passed some resolution to benefit the founder President - denied the benefit of tax exemption to the assessee under s. 11 of the Act - CIT proposed to withdraw the registration granted to the society under s. 12A - Held that that there was no power with the CIT at the relevant time to cancel the registration after having once granted it. Now, the power has been given to the CIT by inserting s. 12AA(3) by Finance Act, 2004 w.e.f 1st Oct., 2004 - As in the case Oxford Academy for Career Development [2008 -TMI - 34673 - ALLAHABAD HIGH COURT ] held that 2AA(3) has no retrospective effect - Decided that CIT has no power to cancel the registration under s. 12AA(3) as it has no retrospective effect - Appeal allowed - nothing to hold the activities of the appellant are not genuine or its activities are not carried out in accordance with the objects of the appellant - Appeal is allowed.
|