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2012 (3) TMI 262 - BOMBAY HIGH COURT
Cancellation of the registration granted to the Trust under Section 12AA(3) - assessee contented that Commissioner was not empowered to pass an order canceling registration u/s 12AA(3) which were brought on the statute book with effect from 1 June 2010 and hence could not have retrospective effect - Held that :- the Finance Act of 2010, subsection (3) was amended so as to empower the Commissioner to cancel the registration of a trust or an institution which has obtained registration at any time under Section 12A (as it stood before its amendment by the Finance (No.2) Act, 1996 - Every statutory provision which operates in respect of a trust, which has already been registered in the past does not have a retrospective character. A law which operates with respect to an event which has occurred in the past is not necessarily retrospective - This cannot by any stretch of imagination, be regarded as a retrospective alteration of the law