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Registration of institution u/s 12AA cannot be cancelled if its receipts from trade, commerce, etc., exceeds Rs.10Lakhs/Rs.25 Lakhs limit u/s 2(15)
Case Law Details
- Case Name
- Rajasthan Housing Board Vs The CIT (ITAT Jaipur)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2009- 10
- Courts
- All ITAT, ITAT Jaipur
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After going through the provisions of section 12AA(3) and section 2(15), we found that before the CIT(A) to withdraw the registration granted u/s 12AA has been provided in sub clause (3) of section 12AA of the Act. The provision of section 2(15) are totally different. Now by the amended provisions of section 2(15) it has been provided that if any year the gross receipts of an institution exceeds Rs. 10 lakhs, (now Rs. 25 lakhs w.e.f. 1.4.2012), then in that case, exemption u/s 11 may not be allowed to the Institution as the activities of the institution will be treated as not charitable if the...
