Do You Know

DYK85
Volume - 85
January 2024

Principal Commissioner or Commissioner of Income Tax can cancel the trust registrations in specific circumstances.

The Principal Commissioner or Commissioner of Income Tax can cancel the registrations granted u/s 12A  to a trust or institution in any of the following circumstances, if:

  1. Noticed occurrence of one or more “Specified Violations” as per section 12AB(4) during the any previous year;
  2. Received a reference from the Assessing Officer under the second proviso to section 143(3) for any previous year;
  3. Such a case has been selected in accordance with the risk management strategy, formulated by the Board (CBDT) from time to time for any previous year.
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