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2013 (3) TMI 76 - DELHI HIGH COURTRegistration u/s 12AA(3) cancelled - as per the revenue assessee in the assessment year 2005-2006 had invested in commercial property at Bangalore and it was not for a charitable purpose - Held that:- Tribunal had correctly appreciated the law and has come to the conclusion that the assessee was entitled under Section 11(5)(x) to invest in immovable property out of the funds which were surplus with it. The Tribunal has also concluded that there was no evidence on the part of the department that the assessee had applied the rent received from the commercial property for non-charitable purpose. That being the case, the registration under Section 12 A could not have been cancelled - in favour of assessee.
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