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TMI Blog2017 (8) TMI 531X X X X Extracts X X X X X X X X Extracts X X X X ..... [2017 (7) TMI 920 - BOMBAY HIGH COURT] Commissioner has invoked its powers under Section 12(AA)(3) of the Act. The said powers are circumscribed by the limitations imposed under Sub Section 3 of Section 12AA of the Act. The Commissioner, nowhere has given the finding that the activities of the Respondent institution are not genuine one or that the said activity carried out are not in consonance wi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tor of Income Tax (Exemptions) had rightly invoked its powers under section 12AA(3) of the Income Tax Act, 1961 (for short the Act ) and cancelled the registration. The activities as carried out by the Assessee were in the nature of trade, commerce or business etc. During the Assessment Year 200910 huge receipts were earned. As such, the DIT (Exemptions) had rightly passed the order. 2] Accord ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ecided on 17th July, 2017. We had observed in paragraph 5 to 7 as under; 5] It is apparent from the record that the Commissioner has invoked its powers under Section 12(AA)(3) of the Act. The said powers are circumscribed by the limitations imposed under Sub Section 3 of Section 12AA of the Act. The Commissioner, nowhere has given the finding that the activities of the Respondentinstitution a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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