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2012 (5) TMI 100 - AT - Income TaxWithdrawal of registration granted u/s 12AA – Held that:- Objectives of the institution does not fall under the provisions of section 2(15) and therefore, the assessee was entitled to registration u/s 12AA of the Act - CIT was not correct in withdrawing registration already granted by the order of the Tribunal to the Institution - if in any year, the gross receipts of the Institution exceeds Rs. 10 lakhs or Rs. 25 lakhs then in that year, the AO is empowered to examine the allowability of exemption u/s 11 but the same has no effect on granting the registration u/s 12AA of the Act – amended provisions of section 2(15) of the Act does not fall within the permissible limit of section 12AA(3)- in favour of assessee.
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