No Retrospective Power to Cancel Registration under Section 12AB(4): ITAT Bangalore

Rukmini Educational Charitable Trust Vs PCIT (Central) (ITAT Bangalore)

No Retrospective Power to Cancel u/s 12AB(4), Reference by AO Before 143(2) Notice Held Void– AO’s ‘Borrowed Satisfaction’ & Retrospective Action Held Invalid 

Assessee-trust, engaged in educational activities & registered u/s 12AA (later migrated to 12AB), challenged the PCIT(Central)’s order dated 30.09.2024 cancelling its registration u/s 12AB(4)(ii) following a search u/s 132 on 23.06.2022 in the Divyasree/Shyamaraju group. PCIT held that the trust diverted funds o

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