Ban on Dissolution Surplus to Members Invalidates Mutual Benefit Finding for Section 12AB Registration
Ban on Dissolution Surplus to Members Invalidates Mutual Benefit Finding for Section 12AB Registration Issue Whether the CIT(Exemption) can reject a society’s Section 12AB charitable registration by mischaracterizing it as a mutual benefit association and considering assessment-stage commercial receipt issues despite statutory prohibitions on distributing assets upon dissolution under Section 14 of the Societies Registration… Read More »