Tribunal Allows Section 12AB Registration Renewal for Public Trust

C. J. Mangaliwala Dharmarth Trust Vs ld. CIT (Exemptions) (ITAT Chandigarh) Registration Can’t Be Denied on Suspicion & Surplus: 12AB Is Not Mini-Assessment—ITAT Delhi Restores Trust Registration Assessee-Trust, established in February 2005 & already enjoying registration u/s 12AA since 28.09.2016, applied for renewal / permanent registration u/s 12AB pursuant to amended law. CIT(E) rejected the application alleging that Trust was generating surplus year after year, expenditure on charity was nominal, some land was sold at profit, cash deposits could not be co-related with income, ...