AdvertisementCareer Point University Hamirpur Vs CIT (ITAT Chandigarh) Chandigarh ITAT: 12AB Registration Cannot Be Denied on Mere Suspicion of Related-Party Transactions Without Proper Factual Verification The Chandigarh ITAT set aside the order of the CIT (Exemptions) rejecting the assessee-university’s application for registration under Section 12A(1)(ac)(ii), holding that registration cannot be denied on the basis of factual discrepancies and mere suspicion regarding related-party borrowings without first undertaking a proper factual verification. The matter was restored to the CIT(E) for de novo...