Sec. 12AA of the Income-tax Act, 1961 – Charitable or religious trust – The competent authority under section 12AA(3) must be satisfied that the activities of the Trust are not genuine or that the activities are not being carried out in accordance with the objects of the Trust or the Institution. Such satisfaction must be recorded as a matter of fact on the basis of specific materials on record. Merely saying that the activities of the assessee is hit by the proviso to section 2(15) of the Act, would not lead to automatic cancellation of registration as that is not a ground provided under section 12AA(3) of the Act for cancellation of registration. Appeal of the revenue against the order of Tribunal dismissed – CIT Vs. MUMBAI METROPOLITAN REGION DEVELOPMENT AUTHORITY [2020] 270 TAXMAN 021 (BOM)