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no material placed before us to establish that the assessee is not carrying on the activities in accordance with the objects or the activities of the assessee are not genuine. The Ld.CCIT has cancelled the registration on presumptions and assumptions without having proper material. Therefore, we cancel the order of the Ld.CCIT passed u/s 12AA(3) of the Act and restore the registration granted to the assessee. Accordingly, appeal of the assessee is allowed.

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Sec. 11 of Income Tax Act, 1961— Exemption —No material placed to establish that assessee is not carrying on the activities in accordance with the objects or the activities of the assessee are not genuine and CCIT has cancelled the registration on presumptions and assumptions without having proper material, therefore, order of CCIT passed u/s 12AA(3) was cancelled and the registration granted was restored to the assessee - VISAKHAPATNAM METROPOLITAN REGION DEVELOPMENT AUTHORITY V/s CHIEF CIT - [2020] 183 ITD 121 (ITAT-VISAKHAPATNAM)