Section 12AA Registration of Trust cannot be cancelled if objects & Activities are charitable

CIT (Exemption) Vs Vijay Kumar Bajoria Foundation (Calcutta High Court) The Commissioner of Income Tax (Exemption), Kolkata [CIT(E)] rejected the application filed by the assessee for registration under Section 12AA of the Act on the ground that the assessee was not carrying on any charitable activity. The correctness of the said finding was tested by the learned Tribunal and on facts it was found that the Trust had a corpus fund of Rs.20,56,600/- and a sum of Rs.19,00,000/- was lying in the fixed deposit with SBI and out of the accumulated interest a sum of Rs.3 lakhs was given as donation to...