Section 12AB Registration Cannot Be Cancelled for Alleged Financial Irregularities Alone: ITAT Delhi

Advertisement Richmond Educational Society Vs DCIT/ ACIT (ITAT Delhi) The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) allowed the appeal of Richmond Educational Society and quashed the order of the Principal Commissioner of Income Tax (Central), Kanpur cancelling the Society’s registration under Sections 12AA/12AB of the Income-tax Act. The Tribunal held that the conditions prescribed under Section 12AB(4) for cancellation of registration were not satisfied and that the impugned order also suffered from jurisdictional and procedural defects. The assessee is a charitable so...