https://www.taxtmi.com/caselaws?id=457050 ITAT Pune held that CIT's cancellation of registration under section 10(23C)(vi) was untenable. The educational trust's registration was cancelled based on trustee's statement during survey surrendering Rs. 9 crore as undisclosed income. ITAT found no specified violation under Explanation 2 to section 10(23C) as the trust conducted only genuine educational activities in accordance with approved conditions. The surrender lacked corroborative evidence and improperly vouched expenses were not quantified. Since occurrence of specified violations is prerequisite for cancellation and none existed, the cancellation order was overturned in favor of the assessee. en-us Fri, 04 Aug 2023 00:00:00 +0530 Tue, 03 Sep 2024 22:33:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457050 ITAT Pune held that CIT's cancellation of registration under section 10(23C)(vi) was untenable. The educational trust's registration was cancelled based on trustee's statement during survey surrendering Rs. 9 crore as undisclosed income. ITAT found no specified violation under Explanation 2 to section 10(23C) as the trust conducted only genuine educational activities in accordance with approved conditions. The surrender lacked corroborative evidence and improperly vouched expenses were not quantified. Since occurrence of specified violations is prerequisite for cancellation and none existed, the cancellation order was overturned in favor of the assessee. Case-Laws Income Tax Fri, 04 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457050