Sec. 12AA registration denied as medical trust was collecting sum on assurance of admission in colle

IT : Where assessee trust formed with an object of running a medical college, started collecting unaccounted money on assurance of providing employment and admission in said college even before obtaining recognition from MCI and affiliation from concerned university, it was to be concluded that its purpose was to run medical college with profit motive and, therefore, assessee's claim for registration under section 12AA was to be rejected