https://www.taxtmi.com/caselaws?id=292750 The Tribunal set aside the cancellation of registration under Section 12AA(3) of the Income Tax Act, 1961, for the assessee, a public sector undertaking. It concluded that the grounds for cancellation, including financial surplus and commercial activities, did not meet the specific conditions required under the first proviso to section 2(15) of the Act. The Tribunal emphasized that the activities were genuine and aligned with the trust's objects, thus allowing the assessee's appeal and reinstating the registration. en-us Fri, 20 Feb 2015 00:00:00 +0530 Wed, 13 Nov 2024 11:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292750 The Tribunal set aside the cancellation of registration under Section 12AA(3) of the Income Tax Act, 1961, for the assessee, a public sector undertaking. It concluded that the grounds for cancellation, including financial surplus and commercial activities, did not meet the specific conditions required under the first proviso to section 2(15) of the Act. The Tribunal emphasized that the activities were genuine and aligned with the trust's objects, thus allowing the assessee's appeal and reinstating the registration. Case-Laws Income Tax Fri, 20 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292750