Assessee, an educational society, was running a school and claimed exemption under section 10(23C) (iiiad) on account of corpus fund. The Assessing Officer added back said corpus funds since the genuineness of transactions was not proved. Consequently, exemption under sections 11 and 12 was rejected for violation of section 12AA since turnover of assessee exceeded Rs. 1 crore. Commissioner (Appeals) also upheld order of Assessing Officer. Registration under section 12AA is not a necessary requirement for availing corpus donations. Since, in instant case, corpus donations remained unverified and assessee was also interested in reverification of evidence, matter was to be remitted back to Assessing Officer for further verification. (AY. 2010-11)