https://www.taxtmi.com/caselaws?id=193158 The Tribunal held that the Commissioner lacked jurisdiction to cancel the registration granted under section 12AA of the Income Tax Act by invoking section 263. While agreeing on the taxability of interest on Fixed Deposits under section 263, the Tribunal emphasized that the power to cancel registration was specifically provided under section 12AA(3) and not under section 263. The appeal was partly allowed, affirming the Commissioner's jurisdiction on the taxability issue but disallowing the cancellation of registration under section 12AA under section 263. en-us Tue, 05 Jan 2016 00:00:00 +0530 Sat, 15 Jul 2017 15:28:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193158 The Tribunal held that the Commissioner lacked jurisdiction to cancel the registration granted under section 12AA of the Income Tax Act by invoking section 263. While agreeing on the taxability of interest on Fixed Deposits under section 263, the Tribunal emphasized that the power to cancel registration was specifically provided under section 12AA(3) and not under section 263. The appeal was partly allowed, affirming the Commissioner's jurisdiction on the taxability issue but disallowing the cancellation of registration under section 12AA under section 263. Case-Laws Income Tax Tue, 05 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193158