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2017 (2) TMI 1444 - HC - Income TaxExemption u/s 11 - registration u/s 12A once granted could not be reviewed or withdrawn in the absence of stipulation to the effect in Section 12AA(3) - HELD THAT:- We have today by our order in Director of Income Tax (Exemption) Vs. North Indian Association - [2017 (3) TMI 37 - BOMBAY HIGH COURT] wherein held that Income is brought to tax to secure the Revenue's interest but it does not necessarily result in automatic cancellation of Registration. Therefore, the mere fact that in one particular year, the respondent assessee may have income receipts in excess of ₹ 10 lakhs or such other limit as provided in the proviso to Section 2(15) of the Act, that by itself would not warrant cancellation of the registration under Section 12AA(3) of the Act . No substantial question of law.
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