right in quashing the order for
cancellation of registration under Section 12AA(3) of the
Income Tax Act, 1961 based on money laundering activities
carried ... granted under Section
12A should not be withdrawn/cancelled under Section 12AA(3) of the Act for
alleged fake activities and indulging in money laundering
12AA of the I.T. Act prescribes
therein the procedure for registration to be granted to a Trust or Institution,
and, Section 12AA(3) provides ... Revenue that section 12AA(1)
of the Income-tax Act, 1961, must be read along with section 12AA(3) of
the Income
ground nos. 3 to 9 of the appeals. First issue is whether the
conditions as prescribed under sub section 3 of section 12AA did exist ... read
with
Section
143(3)
3 . 2009-10 Nil 1,40,62,700/- 08.08.2017 153A read
with
Section
143(3
cannot be a basis for rejection of approval
2.1 Section 12AA(3) is the only section in the code of trusts which empowers ... 12AA(3) / 12AA(4) of
the Act. It cannot cease to be operative unless order u/s 12AA(3) / 12AA
Therefore, registration of the trust U/s
12AA granted on 17.12.1976 was cancelled u/s 12AA(3 ... 3) of the Act. The said
powers are circumscribed by the limitations imposed under Sub
Section 3 of Section 12AA of the Act. The Commissioner
Commissioner by due process of law laid down u/s. 12AA(3) of
the Act; it cannot cease to be operative unless order ... 12AA cannot be withdrawn merely because of non-
intimation of amendments in trust deed to the Department because statutory
requirements contained in section 12AA(3
said decisions reveals that it concerned
with the proceedings under Section 12AA(3) of the IT Act and not
Section 263 . Secondly, while in para ... Tribunal has held
hat though power has been vested under Section
12AA (3) of the Income Tax Act in the
Commissioner of Income
basis
of the order of CIT (Exemption), Jaipur u/s 12AA(3) dated 27.12.2010 by which the
registration granted u/s 12AA was withdrawn ... time of
registration, the ld. CIT has to consider section 12AA(3)
and he has to consider two conditions for rejection of
registration granted
2019
institution u/s.12AA of the Act on the ground of being engaged
in objects of general public utility.
3. The assessee had filed ... thereafter vide his order passed u/s 12AA(3) of the Act, dated
29.01.2021 dropped such proceedings with an observation that
the aforesaid receipt
Central) issued
notices u/s 10(23C)(vi) and u/s 12AA(3) read with section 13(1)(c) of the act
on 15.11.2019, followed ... decision in
cancelling the registration of the assessee by invoking section
12AA(3) and 13(1)(c) are wholly unjustified, injudicious and
unlawful and, therefore
