https://www.taxtmi.com/caselaws?id=418283 The High Court of Calcutta dismissed the revenue's appeals challenging the cancellation of registration under Section 12AA(3) of the Income Tax Act for the assessment year 2006-07. The Court upheld the assessee's contentions, emphasizing the genuineness of the activities and lack of evidence supporting the cancellation. Citing the case of Commissioner of Income Tax vs. Sarladevi Sarabhai Trust, the Court concluded that the donor trust could still be exempt under Section 11(1) even if donations were earmarked for the donee trust's corpus. The appeals were dismissed, and the revenue's substantial questions of law were answered against them. en-us Tue, 08 Feb 2022 00:00:00 +0530 Thu, 23 Jun 2022 18:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418283 The High Court of Calcutta dismissed the revenue's appeals challenging the cancellation of registration under Section 12AA(3) of the Income Tax Act for the assessment year 2006-07. The Court upheld the assessee's contentions, emphasizing the genuineness of the activities and lack of evidence supporting the cancellation. Citing the case of Commissioner of Income Tax vs. Sarladevi Sarabhai Trust, the Court concluded that the donor trust could still be exempt under Section 11(1) even if donations were earmarked for the donee trust's corpus. The appeals were dismissed, and the revenue's substantial questions of law were answered against them. Case-Laws Income Tax Tue, 08 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418283