PCIT empowered to cancel Section 12A Registration: Kerala HC

PCIT Vs Last Hour Ministry (Kerala High Court) Kerala High Court held that section 12AA empower the Principal Commissioner to pass order cancelling registration granted u/s. 12A of the Income Tax Act and for ordering the same Principal Commissioner is not required to await decision of Assessing Authority. Facts- Pursuant to a survey conducted in relation to the activities of the respondent-assessee on 26.02.2020 and a search conducted in the premises of the assessee on 05.11.2020, show-cause notices were issued u/s. 12AA(3) /(4) of the Income Tax Act to the assessee proposing to cancel the reg...