12AA registration can be cancelled if main activities of assessee-trust were in the nature of trade & Commerce

IN THE ITAT AMRITSAR BENCH Improvement Trust Versus Commissioner of Income-tax IT Appeal No. 366 (Asr.) of 2012 December 18, 2012 ORDER 1. The assessee-trust filed the present appeal against the order of the Commissioner of Income Tax (In short, ‘CIT’) Bathinda, dated 20.07.2012 passed under section 12AA(3) of the Income Tax Act, 1961 ( In short, ‘the Act). 2. The Ld. CIT Bathinda on 30.06.2012 issued a show cause notice to the assessee-trust as to why the registration granted u/s 12AA of the Act on 16.08.2010 may not be cancelled under section 12AA(3) of the...