ITAT Denies Stay Application; Assessee's Activities Contradict Trust Objectives, Leading to Registration Cancellation.

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....The Income Tax Appellate Tribunal (ITAT) holds the power to grant stay of the operation of an order under challenge during its pendency, if non-granting of stay would render the appeal nugatory for the assessee upon success. Re-assessment proceedings are independent and cannot be considered a consequence of the impugned order cancelling registration. The PCIT (Central)-2, Delhi had jurisdiction to cancel the registration u/s 12AB with retrospective effect, as per precedents. The assessee's claim of carrying activities per trust objects is prima facie contradicted by materials gathered during a survey, indicating involvement in stopping coal-based power plants and mines, utilizing funds from foreign entities. The assessee failed to satisfy c.........