The \u00a0registration was granted\u00a0 under section 12A of the Act.\u00a0 Assessing Officer conducted survey on premises of assessees on 26-2-2020. \u00a0Subsequently Authorized Officer conducted search under section 132 upon assessees on 5-11-2020. As a consequence of survey conducted on 26-2-2020 CIT (E)\u00a0 the\u00a0 registration\u00a0 was cancelled on the ground that\u00a0 returns of income filed by trusts\/entities were incorrect and incomplete, amounts set apart for specific purposes were found to have been indiscriminately and improperly used, inflation of expenses and misuse of trust properties. On appeal the Tribunal held that reasons would at best give rise to violations under section 13(1)(c) and 13(1)(d) which would result in additions in assessment and reassessment. In terms of provisions of section 12AA(4) there was no assessment order nor any evidence found or established against assessees on issues raised by Commissioner (E) by an order of any quasi-judicial authority nor had violation of any other law reached finality. Accordingly order of cancellation of registration was\u00a0 quashed as same was premature.<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 12AA : Procedure for registration-Trust or institution-Amounts set apart for specific purposes-No assessment-Cancellation of registration is held to be premature [S. 12A, 12AA(4), 13, 132, 133A] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-33969","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-8PT","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/33969","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=33969"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/33969\/revisions"}],"predecessor-version":[{"id":33970,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/33969\/revisions\/33970"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=33969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=33969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=33969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}