Dismissing the appeal of the revenue the Court held that ;provision empowering cancellation of registration of trust granted under section 12A was brought in by sub-section (3) of section 12AA by Finance Act, 2010, with effect from 1-6-2010, and, thus, at time of initiation of proceedings for cancellation of registration in year 2008, Commissioner did not have such a power in terms of sub-section (3) of section 12AA and, consequently, the order was set aside
PCIT v. JIS Foundation (2018) 89 taxmann.com 226 (Cal) (HC) Editorial: SLP of revenue is admitted ; PCIT v. JIS Foundation (2018) 257 Taxman 261 / 96 taxmann.com 257 (SC)/257 Taxman 553 /96 taxmann.com 611 (SC)
S. 12AA : Procedure for registration –Trust or institution- At time of initiation of proceedings for cancellation of registration in year 2008, Commissioner did not have such a power in terms of sub-section (3) of section 12AA and, accordingly the order was to be set aside [ S.12A ]