(3)For the purposes of sub-section (1), a trust or an institution shall be deemed to have been converted into any form not eligible for registration [under section 12AA or section 12AB] in a previous year, if,—(i)the registration granted to it [under section 12AA or section 12AB] has been cancelled; or(ii)it has adopted or undertaken modification of its objects which do not conform to the conditions of registration and it,—(a)has not applied for fresh registration [under section 12AA or section 12AB] in the said previous year; or(b)has filed application for fresh registration [under section 12AA or section 12AB] but the said application has been rejected.Following sub-sections (1), (2) and (3) shall be substituted for the existing sub-sections (1), (2) and (3) of section 115TD by the Finance Act, 2022, w.e.f. 1-4-2023:
