https://www.taxtmi.com/caselaws?id=787482 Cancellation under Section 12AA(3) requires a recorded satisfaction that a trust's or institution's activities are not genuine or not in accordance with its objects; mere surplus generation during educational activity, when invested in educational infrastructure or applied to educational objects, does not by itself justify cancellation. The interpretive rules applied under Section 10(23C) (that surplus per se is not disqualifying) are relevant only to that limited principle; they cannot be read to supplant the mandatory satisfaction standard for cancellation under Section 12AA(3). The cancellation was therefore unsustainable. en-us Fri, 27 Feb 2026 00:00:00 +0530 Fri, 06 Mar 2026 08:30:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787482 Cancellation under Section 12AA(3) requires a recorded satisfaction that a trust's or institution's activities are not genuine or not in accordance with its objects; mere surplus generation during educational activity, when invested in educational infrastructure or applied to educational objects, does not by itself justify cancellation. The interpretive rules applied under Section 10(23C) (that surplus per se is not disqualifying) are relevant only to that limited principle; they cannot be read to supplant the mandatory satisfaction standard for cancellation under Section 12AA(3). The cancellation was therefore unsustainable. Case-Laws Income Tax Fri, 27 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787482