COMMISSIONER OF INCOME TAX (EXEMPTIONS) KOLKATA vs JAGANNATH GUPTA FAMILY TRUST

The Supreme Court upheld the cancellation of registration of M/s. Jagannath Gupta Family Trust under Section 12AA(3) of the Income Tax Act, 1961, due to findings of bogus donations and money laundering activities. The Court emphasized the necessity of adherence to principles of natural justice, noting that the respondent was denied the opportunity to cross-examine a key witness. The ruling confirmed that the trust's activities were not genuine and violated the objectives of the trust as per the Act, thereby affirming the High Court's decision.