Assessee-Trust’s 12AB Registration Cannot Be Cancelled for Procedural Lapses

Hemkunt Foundations Vs PCIT (ITAT Delhi) No cancellation of assessee-trust registration over Jurisdictional and procedural lapses as clause u/s 12AB(4) not applicable retrospectively Conclusion: The cancellation of registration under Section 12AB was not justified as PCIT lacked jurisdiction and that the “specified violation” clause under Section 12AB(4) was inapplicable for the financial years in question. Held: Assessee-trust had reapplied for registration post-amendment, which was granted on 24.09.2021. The Investigation Wing shared evidence found during the survey with AO and P...