High Court of Bombay at Goa Allows Tax Appeal of Statutory Corporation Against Cancellation of Registration Under Section 12AA(3) — CIT Lacked Jurisdiction to Cancel Registration Based on Amendment to Section 2(15) Definition of Charitable Purpose. The court held that the power under Section 12AA(3) of the Income Tax Act, 1961 cannot be invoked solely on the ground that the definition of 'charitable purpose' in Section 2(15) was amended, as the registration was granted under Section 12A on 16.12.1983 and continued thereafter.
4 Feb 2020The appellant, Goa Industrial Development Corporation, is a statutory corporation established under the Goa, Daman and Diu Industrial Development Corp...
