https://www.taxtmi.com/highlights?id=80469 The Income Tax Appellate Tribunal (ITAT) holds the power to grant stay of the operation of an order under challenge during its pendency, if non-granting of stay would render the appeal nugatory for the assessee upon success. Re-assessment proceedings are independent and cannot be considered a consequence of the impugned order cancelling registration. The PCIT (Central)-2, Delhi had jurisdiction to cancel the registration u/s 12AB with retrospective effect, as per precedents. The assessee's claim of carrying activities per trust objects is prima facie contradicted by materials gathered during a survey, indicating involvement in stopping coal-based power plants and mines, utilizing funds from foreign entities. The assessee failed to satisfy c..... en-us Fri, 16 Aug 2024 08:19:29 +0530 Fri, 16 Aug 2024 08:19:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=80469 The Income Tax Appellate Tribunal (ITAT) holds the power to grant stay of the operation of an order under challenge during its pendency, if non-granting of stay would render the appeal nugatory for the assessee upon success. Re-assessment proceedings are independent and cannot be considered a consequence of the impugned order cancelling registration. The PCIT (Central)-2, Delhi had jurisdiction to cancel the registration u/s 12AB with retrospective effect, as per precedents. The assessee's claim of carrying activities per trust objects is prima facie contradicted by materials gathered during a survey, indicating involvement in stopping coal-based power plants and mines, utilizing funds from foreign entities. The assessee failed to satisfy c..... Highlights Income Tax Fri, 16 Aug 2024 08:19:29 +0530 https://www.taxtmi.com/highlights?id=80469