Liquidator appointment under Section 34 requires consideration of creditor recommendations, valid professional authorisation, and preservation of vali...
Income-tax exemption for specified regulatory fees and government grants applies subject to non-commercial activity and continuing compliance conditio...
Digital accessibility audit and remediation deadlines extended, while all other disability-compliance obligations for regulated entities remain unchan...
ITAT reversed PCIT's cancellation of charitable trust registration under sections 12A and 12AB. The tribunal held that PCIT lacked express statutory authority to cancel section 12A registration through 12AB(4) proceedings. Show cause notices dated 21.07.2023 and 20.03.2024 were declared void ab initio. ITAT found that alleged 'specified violations' from FY 2019-20 to 2021-22 could not be basis for cancellation as this provision was effective only from 01.04.2022. While seized documents suggested irregularities in salary payments and capitation fees, ITAT ruled that trust's genuine charitable activities in operating medical college and hospital warranted continuation of registration. Any specific financial discrepancies could be addressed during assessment rather than through registration cancellation. Registration under sections 12A and 12AB restored.
ITAT reversed PCIT's cancellation of charitable trust registration under sections 12A and 12AB. The tribunal held that PCIT lacked express statutory authority to cancel section 12A registration through 12AB(4) proceedings. Show cause notices dated 21.07.2023 and 20.03.2024 were declared void ab initio. ITAT found that alleged 'specified violations' from FY 2019-20 to 2021-22 could not be basis for cancellation as this provision was effective only from 01.04.2022. While seized documents suggested irregularities in salary payments and capitation fees, ITAT ruled that trust's genuine charitable activities in operating medical college and hospital warranted continuation of registration. Any specific financial discrepancies could be addressed during assessment rather than through registration cancellation. Registration under sections 12A and 12AB restored.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4800
Join Channel
TaxTMI 
