CIT's Denial of Section 12AA Registration Over Prior Corpus Donations Deemed Legally Unsustainable by Court.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Grant of registration u/s 12AA - The ld. CIT, Exemption had denied the grant of registration by taking into consideration that the corpus donations collected in the preceding financial years had escaped assessment to tax which clearly falls under the realm of the assessment. In view of the settled position of law discussed above, we are of the considered opinion that the grounds on which the ld. CIT, Exemption had rejected the grant of registration are untenable in law. - AT....