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2018 (9) TMI 713 - HC - Income TaxRegistration granted under Section 12A - whether benefit of exemption would continue even after the assessee society was found to be regularly involved in holding various commercial tournaments on behalf of BCCI and receiving payment from BCCI for TV and other rights? - Held that:- Issue stands concluded against the Revenue and in favour of the Respondent by the decision of this Court in the case of Director of Income Tax (Exemptions) Vs. Khar Gymkhana [2016 (6) TMI 489 - BOMBAY HIGH COURT] and The Commissioner of Income Tax – II, Thane Vs. The Mumbai Metropolitan Regional Iron and Steel Market Committee [2017 (7) TMI 920 - BOMBAY HIGH COURT]. Appeal is admitted on substantial question -(iii) “ Whether on the facts and circumstances of the case and in law, the Tribunal did not err in holding that even after addition to the objects clauses made without intimation to the department, the registration cannot be ipso facto cancelled in terms of Sec. 12AA(3) of the Act, without appreciating the fact that registration granted under Section 12A and the benefits flowing therefrom, cannot continue after amending the objects without the approval of the competent authority as the registration granted is to be objects prior to such amendment”?
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