Volume - 85
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:
- Noticed occurrence of one or more “Specified Violations” as per section 12AB(4) during the any previous year;
- Received a reference from the Assessing Officer under the second proviso to section 143(3) for any previous year;
- 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.