S. 12A Registration cannot be denied for investment of surplus fund in immovable property

IN THE ITAT DELHI BENCH ‘A’ Abul Kalam Azad Islamic Awakening Center V/s. Director of Income-tax (Exemption), New Delhi IT APPEAL NO. 386 (DELHI) OF 2012 MARCH 30, 2012 ORDER R.P. Tolani, Judicial Member This is assessee’s appeal against the order of Director of Income-tax (E) passed u/s 12AA(3) r.w.s. 12 of the I.T. Act, 1961, cancelling registration granted u/s 12A. 2. Following grounds are raised: “1. (i) That on the facts and circumstances of the case and under the law, cancellation of registration u/s 12AA vide order u/s 12AA(3) is not justified. (...