https://www.taxtmi.com/caselaws?id=432156 The Tribunal allowed the appeal filed by the assessee, quashing the revision order by the PCIT and restoring the original assessment order by the AO. It was determined that the AO had conducted sufficient inquiries regarding corpus donations and correctly applied Section 12A(2) provisions on the trust's registration status. The Tribunal held that the PCIT's reliance on Explanation 2 to Section 263 was improper, leading to the restoration of the original assessment order in favor of the assessee. en-us Mon, 26 Dec 2022 00:00:00 +0530 Thu, 29 Dec 2022 09:13:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432156 The Tribunal allowed the appeal filed by the assessee, quashing the revision order by the PCIT and restoring the original assessment order by the AO. It was determined that the AO had conducted sufficient inquiries regarding corpus donations and correctly applied Section 12A(2) provisions on the trust's registration status. The Tribunal held that the PCIT's reliance on Explanation 2 to Section 263 was improper, leading to the restoration of the original assessment order in favor of the assessee. Case-Laws Income Tax Mon, 26 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432156