Cancellation of S. 12AA Registration to Society can’t be a Ground for Imposing Penalty: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chandigarh bench has held that penalty under section 271(1)(a) cannot be levied on a charitable society on cancellation of its registration under Section 12AA of the Income Tax Act, 1961. For the relevant assessment year, the assessee had filed the income tax return declaring NIL income after claiming exemption […]

The post Cancellation of S. 12AA Registration to Society can’t be a Ground for Imposing Penalty: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.

from Taxscan | Simplifying Tax Laws https://ift.tt/3aogQRT