Trustees Misappropriating Funds Leads to Section 12A Registration Cancellation; Section 11 Benefits Denied, but Cancellation Disputed.

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....Registration granted u/s. 12A cancelled - If the trustees are misappropriating the funds, if they are maintaining false accounts, it is open to the authorities to deny the benefit under section 11 of the Income Tax Act, but that is not a ground for cancelation of registration itself. - HC....