https://www.taxtmi.com/circulars?id=54561 Where receipts from commercial activities exceed the proviso threshold in a particular year, the institution's income is not exempt for that year, but temporary excess alone does not mandate cancellation of registration if there is no change in the nature of activities; cancellation must follow statutory grounds and procedures, and unjustified cancellation may attract tax on accreted income under Chapter XII EB. en-us Fri, 27 May 2016 00:00:00 +0530 Sat, 28 May 2016 10:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=54561 Where receipts from commercial activities exceed the proviso threshold in a particular year, the institution's income is not exempt for that year, but temporary excess alone does not mandate cancellation of registration if there is no change in the nature of activities; cancellation must follow statutory grounds and procedures, and unjustified cancellation may attract tax on accreted income under Chapter XII EB. Circulars Income Tax Fri, 27 May 2016 00:00:00 +0530 https://www.taxtmi.com/circulars?id=54561