https://www.taxtmi.com/caselaws?id=393874 Registration under section 12AA(3) may be cancelled only where the objects are not genuine or the activities are not carried out in accordance with those objects; a mere allegation of commercial activity is insufficient. The assessee's developmental and public utility functions, including housing, roads, civic amenities, parks and other area-development works, were treated as consistent with its statutory objects. Sale of land by auction and development agreements were also viewed as compatible with the governing urban development framework. The proviso to section 2(15) did not, by itself, justify cancellation of registration at that stage, and the cancellation order was set aside. en-us Fri, 20 Mar 2020 00:00:00 +0530 Tue, 24 Mar 2020 12:20:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393874 Registration under section 12AA(3) may be cancelled only where the objects are not genuine or the activities are not carried out in accordance with those objects; a mere allegation of commercial activity is insufficient. The assessee's developmental and public utility functions, including housing, roads, civic amenities, parks and other area-development works, were treated as consistent with its statutory objects. Sale of land by auction and development agreements were also viewed as compatible with the governing urban development framework. The proviso to section 2(15) did not, by itself, justify cancellation of registration at that stage, and the cancellation order was set aside. Case-Laws Income Tax Fri, 20 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393874