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Story of Young Indian - Cancellation of Section 12AA Registration
The Honourable Delhi ITAT[1] in the matter of Young Indian v CIT (Exemption)[2] has confirmed the rejection of registration under Section 12AA of Income Tax Act, 1961 (Act) with retrospective effect is valid in law. In this article, we discuss the story of Young Indian (YI), the acquisition of Associated Journals Limited (AJL), the non-carrying of any activities of YI and the cancellation of registration of YI with retrospective effect.
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