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2016 (2) TMI 802 - HC - Income TaxRegistration as a Charitable Trust under Section 12A cancelled - Whether the Tribunal was correct in holding that the assessee is entitled to continue registration under Section 12A? - Held that:- Subject matter involved in this appeal is directly covered by the judgment passed by the Division Bench in (The Director of Income Tax (Exemption) and another Vs. Karnataka Industrial Area Development Board [2015 (7) TMI 169 - KARNATAKA HIGH COURT ] wherein held that a registration granted earlier under Section 12A of the Act can be cancelled under two circumstances; ( a) If the activities of such trust or institution are not genuine, (b) The activities of trust or institution not being carried out in accordance with the object of the trust or institution. Only on those two conditions being satisfied, the registration granted under Section 12A of the Act could be cancelled by the authorities. It is not in dispute that there is no violation of the said two conditions by the assessee. The activities carried on by the assessee is a genuine one.The registration granted is cancelled in view of the amendment of first proviso to Section 2(15) of the Act. That is not a ground specified in the Statute for cancellation of the registration. - Decided in favour of assessee.
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