Sec. 12A registration can’t be rejected just because assessee was generating huge revenue; ITAT remanded matter

INCOME TAX : Where assessee-company was incorporated by State Government with objects of providing re-employment to ex-servicemen, impugned order passed by CIT (Exemption) rejecting registration under section 12A to assessee on ground that it was a commercial organization merely because it was generating huge revenue from year to year with mark-up on cost of 10 per cent to 12 per cent, without considering matter in proper perspective, was to be set aside and matter was to be remanded

from www.taxmann.com Latest Case Laws https://www.taxmann.com/research/direct-tax-laws/top-story/101010000000315572/sec-12a-registration-can’t-be-rejected-just-because-assessee-was-generating-huge-revenue-itat-remanded-matter.aspx