Assessee-society established an educational institution. Assessing Officer disallowed the exemption   on ground that excess income over expenditure of said institution run by assessee was carried to account of society for taxation and other purpose and since aggregate of fee receipts of institution and receipts of society exceeded prescribed upper limit of Rs. 1 crore. The order of the Assessing was affirmed by the Tribunal. On appeal the Court held that the receipts of Institution were below Rs. 1 crore. In the computation of income Assessing Officer himself recognized and acknowledged difference between receipts of institution and receipts of society. Allowing the appeal the Court held that the receipts of institution could not be clubbed with other income of assessee-society for purpose of considering benefit of section 10(23C)(iiiad) of the Act.. The Court also observed that the Tribunal was erred in looking at the provisions of section 12AA of the Act. Exemption was allowed. (AY. 2007-08)