2017 (8) TMI 531

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....spondent ORDER Per Court 1] Mr.Kotangle, the learned counsel for the Appellant submits that considering the provisions of section 215 along with its proviso, the Director of Income Tax (Exemptions) had rightly invoked its powers under section 12AA(3) of the Income Tax Act, 1961 (for short "the Act") and cancelled the registration. The activities as carried out by the Assessee were in the nature....

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....ivered by us in case of the Commissioner of Income Tax-II vs. the Mumbai Metropolitan Regional Iron and Steel Market Committee in Income Tax Appeal No.43 of 2015, decided on 17th July, 2017. We had observed in paragraph 5 to 7 as under; "5] It is apparent from the record that the Commissioner has invoked its powers under Section 12(AA)(3) of the Act. The said powers are circumscribed by the limit....