Microfinance Entity's Charitable Status Restored; CIT Fails to Prove Non-Genuine Operations or Commercial Intent u/ss 11 & 12AA(3.

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....Denial of exemption u/s 11 - cancellation of registration u/s 12AA(3) - Since the assessee is in the micro finance activity, the activity itself is a charitable activity - advances were made to the rural poor - CIT has not proved that there is no charitable activity and the society is not genuine and is running on commercial activity with tangible evidence. - Registration restored - AT....