https://www.taxtmi.com/caselaws?id=770416 ITAT Indore held that amendments to section 12AB(4) through Finance Act, 2022 are prospectively applicable from 01.04.2022 and cannot be applied retrospectively for violations committed before this date. The assessee's search was conducted on 02.02.2023 for violations occurring prior to 01.04.2022. Following established precedents, the tribunal quashed PCIT(Central)'s order cancelling approval under section 10(23C)(vi) and restored the assessee's approval. The tribunal noted that decisions regarding cancellation of registration under sections 12A/12AA apply equally to approval cancellations under section 10(23C)(vi) as the core legal issue remains identical. en-us Mon, 28 Apr 2025 00:00:00 +0530 Sat, 10 May 2025 08:36:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770416 ITAT Indore held that amendments to section 12AB(4) through Finance Act, 2022 are prospectively applicable from 01.04.2022 and cannot be applied retrospectively for violations committed before this date. The assessee's search was conducted on 02.02.2023 for violations occurring prior to 01.04.2022. Following established precedents, the tribunal quashed PCIT(Central)'s order cancelling approval under section 10(23C)(vi) and restored the assessee's approval. The tribunal noted that decisions regarding cancellation of registration under sections 12A/12AA apply equally to approval cancellations under section 10(23C)(vi) as the core legal issue remains identical. Case-Laws Income Tax Mon, 28 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770416