Section 12AB(5) in Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020
(5)Without prejudice to the provisions of sub-section (4), where registration of a trust or an institution has been granted under clause (a) or clause (b) of sub-section (1) and subsequently, it is noticed that-(a)the activities of the trust or the institution are being carried out in a manner that the provisions of sections 11 and 12 do not apply to exclude either whole or any part of the income of such trust or institution due to operation of sub-section (1) of section 13; or(b)the trust or institution has not complied with the requirement of any other law, as referred to in item (B) of sub-clause (i) of clause (b) of sub-section (1), and the order, direction or decree, by whatever name called, holding that such non-compliance has occurred, has either not been disputed or has attained finality,then, the Principal Commissioner or the Commissioner may, by an order in writing, after affording a reasonable opportunity of being heard, cancel the registration of such trust or institution.";(VIII)in section 13, in Explanation 1, after the figures and letter "12A", the figures and letters ", 12AA, 12AB" shall be inserted with effect from the 1st day of April, 2021;(IX)in section 35,-(a)in sub-section (1),-(i)with effect from the 1st day of June, 2020, in clause (iii), in the Explanation,-(A)for the words, brackets, figures and letter "to which clause (ii) or clause (iii) or to a company to which clause (iia)", the words, brackets and figures "to which clause (ii) or clause (iii)" shall be substituted and shall be deemed to have been substituted;(B)for the words, brackets, figures and letter "clause (ii) or clause (iii) or to a company referred to in clause (iia)", the words, brackets and figures "clause (ii) or clause (iii)" shall be substituted and shall be deemed to have been substituted;(ii)with effect from the 1st day of April, 2021, in sub-clause (iii), in the Explanation,-(A)for the words, brackets and figures "to which clause (ii) or clause (iii)", the words, brackets, figures and letter "to which clause (ii) or clause (iii) or to a company to which clause (iia)" shall be substituted;(B)for the words, brackets and figures "clause (ii) or clause (iii)", the words, brackets, figures and letter "clause (ii) or clause (iii) or to a company referred to in clause (iia)" shall be substituted;(iii)the fifth and sixth provisos occurring after clause (iv) shall be omitted and shall be deemed to have been omitted with effect from the 1st day of June, 2020;(iv)after the fourth proviso occurring after clause (iv), the following provisos shall be inserted with effect from the 1st day of April, 2021, namely:-"Provided also that every notification under clause (ii) or clause (iii) in respect of the research association, university, college or other institution or under clause (iia) in respect of the company issued on or before the date on which this proviso has come into force, shall be deemed to have been withdrawn unless such research association, university, college or other institution referred to in clause (ii) or clause (iii) or the company referred to in clause (iia) makes an intimation in such form and manner, as may be prescribed, to the prescribed income-tax authority within three months from the date on which this proviso has come into force, and subject to such intimation the notification shall be valid for a period of five consecutive assessment years beginning with the assessment year commencing on or after the 1st day of April, 2022:Provided also that any notification issued by the Central Government under clause (ii) or clause (iia) or clause (iii), after the date on which the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Bill, 2020 receives the assent of the President, shall, at any one time, have effect for such assessment year or years, not exceeding five assessment years as may be specified in the notification.";(b)sub-section (1A) shall be omitted and shall be deemed to have been omitted with effect from the 1st day of June, 2020;(c)after sub-section (1), the following sub-section shall be inserted with effect from the 1st day of April, 2021, namely:-
