https://www.taxtmi.com/caselaws?id=441401 The Tribunal held that the amended 15th proviso to section 10(23C) of the Income-tax Act, 1961, is prospective in application but retrospective in effect, allowing the Pr. CIT to proceed under it for cancellation proceedings initiated from 01-04-2022. However, the Tribunal found no evidence of specified violations by the trust, such as misapplication of income or non-genuine activities. The trustee's statement lacked evidentiary value. Consequently, the Tribunal overturned the cancellation of the trust's registration under section 10(23C)(vi), allowing the appeals and setting aside the cancellation order. The order was pronounced on 4th August 2023. en-us Fri, 04 Aug 2023 00:00:00 +0530 Wed, 31 Jan 2024 13:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441401 The Tribunal held that the amended 15th proviso to section 10(23C) of the Income-tax Act, 1961, is prospective in application but retrospective in effect, allowing the Pr. CIT to proceed under it for cancellation proceedings initiated from 01-04-2022. However, the Tribunal found no evidence of specified violations by the trust, such as misapplication of income or non-genuine activities. The trustee's statement lacked evidentiary value. Consequently, the Tribunal overturned the cancellation of the trust's registration under section 10(23C)(vi), allowing the appeals and setting aside the cancellation order. The order was pronounced on 4th August 2023. Case-Laws Income Tax Fri, 04 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441401