CIT can Cancel 12A Registration only on and after 01.10.2004: SC

Industrial Infrastructure Development Corporation(Gwalior) M.P. Ltd. Vs CIT (Supreme Court of India)

It is not in dispute that an express power was conferred on the CIT to cancel the registration for the first time by enacting sub-Section (3) in Section 12AA only with effect from 01.10.2004 by the Finance (No.2) Act 2004 (23 of 2004) and hence such power could be exercised by the CIT only on and after 01.10.2004, i.e., (assessment year 2004-2005) because the amendment in question was not retrospective but wa

Please become a Premium member. If you are already a Premium member, login here to access the full content.