Registration of Trust cannot be cancelled for non-filing of I.T. return due to misdeeds of ex-president

Wholesale Cloth Merchant Association Vs PCIT (ITAT Jaipur) ITAT observed that due to the negligence or cheating of past executive members and bad intention of misappropriation of funds by ex-president, they had not maintained the books of accounts and get their accounts audited by a chartered accountant. But after change of management and involvement of new committee, books of accounts have been prepared and audit has also been done. During the A.Y. from 2014-­15 to 2016-17 heavy amount was withdrawn by the ex-president, out of total amount some entries are debited in account of Sh. Tejendra ...