Specified violation power: registration and approval conditions in Form 10AC treated as updated, enabling cancellation for breaches. The Circular clarifies that conditions in Form No. 10AC issued between 01.04.2021 and the Circular's date are to be read as substituted by Table 1 conditions effective 1 April 2022, aligning Form 10AC with Finance Act, 2022 amendments granting the Principal Commissioner or Commissioner power to examine and cancel or refuse cancellation of registration/approval for specified violations. It rectifies technical 'provisional' headings to reflect substantive registration/approval and reproduces annexed standard conditions (income application, no non incidental business, separate books, no non genuine activity, compliance with law, truthful Form 10A, timelines and re registration/re approval obligations).
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Provisions expressly mentioned in the judgment/order text.
Specified violation power: registration and approval conditions in Form 10AC treated as updated, enabling cancellation for breaches.
The Circular clarifies that conditions in Form No. 10AC issued between 01.04.2021 and the Circular's date are to be read as substituted by Table 1 conditions effective 1 April 2022, aligning Form 10AC with Finance Act, 2022 amendments granting the Principal Commissioner or Commissioner power to examine and cancel or refuse cancellation of registration/approval for specified violations. It rectifies technical "provisional" headings to reflect substantive registration/approval and reproduces annexed standard conditions (income application, no non incidental business, separate books, no non genuine activity, compliance with law, truthful Form 10A, timelines and re registration/re approval obligations).
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