Section 12A Registration Cancellation: Profit Allegations Don't Automatically Disqualify Exemption u/s 11.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Registration under Section 12A cancelled - Mere selling some product at profit (as has been the allegation of the revenue) will not ipso facto hit the assessee by applying proviso to Section 2(15) and deny exemption available under section 11. - AT....