https://www.taxtmi.com/caselaws?id=247806 The Tribunal overturned the cancellation of registration for a charitable trust under section 12A of the Income Tax Act, emphasizing that exceeding the gross receipts threshold does not automatically warrant revocation. The Tribunal clarified that while tax benefits may be limited for the year of excess receipts, the institution's charitable status remains intact. The decision was supported by legal precedents and a Co-ordinate Bench ruling, highlighting the liberal interpretation post the amendment. The Madras High Court's judgment further emphasized the importance of assessing income sources for exemption under section 11, rather than solely relying on grounds for registration cancellation. en-us Wed, 12 Feb 2014 00:00:00 +0530 Fri, 23 May 2014 09:31:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247806 The Tribunal overturned the cancellation of registration for a charitable trust under section 12A of the Income Tax Act, emphasizing that exceeding the gross receipts threshold does not automatically warrant revocation. The Tribunal clarified that while tax benefits may be limited for the year of excess receipts, the institution's charitable status remains intact. The decision was supported by legal precedents and a Co-ordinate Bench ruling, highlighting the liberal interpretation post the amendment. The Madras High Court's judgment further emphasized the importance of assessing income sources for exemption under section 11, rather than solely relying on grounds for registration cancellation. Case-Laws Income Tax Wed, 12 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247806