https://www.taxtmi.com/caselaws?id=245604 Cancellation of registration under section 12AA(3) depends on a factual finding that the assessee's activities are either not genuine or not carried out in accordance with its objects. On the record, the source and character of interest income and rent receipts could not be conclusively linked to statutory functions or shown to be separate commercial exploitation of assets. Because the necessary factual correlation was not established and the material was incomplete, the controversy could not be finally decided on merits. The matter was therefore restored for fresh adjudication on the limited factual requirements of section 12AA(3), after giving the assessee an opportunity of hearing. en-us Mon, 31 Dec 2012 00:00:00 +0530 Thu, 03 Apr 2014 07:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245604 Cancellation of registration under section 12AA(3) depends on a factual finding that the assessee's activities are either not genuine or not carried out in accordance with its objects. On the record, the source and character of interest income and rent receipts could not be conclusively linked to statutory functions or shown to be separate commercial exploitation of assets. Because the necessary factual correlation was not established and the material was incomplete, the controversy could not be finally decided on merits. The matter was therefore restored for fresh adjudication on the limited factual requirements of section 12AA(3), after giving the assessee an opportunity of hearing. Case-Laws Income Tax Mon, 31 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245604