Held, the assessee was an association of two charitable trusts. The objects of the assessee was education. Both these charitable trusts were registered with the Income-tax authorities and under the Bombay Public Trusts Act, 1950. Both these members of the association of persons were entities regulated by the Charity Commissioner. Further, the annual accounts furnished for 2017-18 clearly showed that the assessee had earned only educational fees and bank interest on fixed deposits and there was no other revenue earned. The expenses incurred by the assessee were with respect to the educational activities only. Furthermore, one of the members of the association of-persons was merged with another trust and therefore instead of the member of the association of persons, the trust in which the member of the association of persons amalgamated was mentioned. Further, in the certificate dated March 7, 2019 the names of both the members of the association of persons were mentioned. That the fees had been received and the educational activities were also carried out by the association of persons and the fixed assets created for education purposes were in the name of the association of persons, was-evident by the annual accounts and was mentioned in form 10BB filed. Form 56D clearly showed that the association of persons was formed to run and manage an English medium public school and the total income shown clearly showed that the assessee was running a school. Thus, exemption claim was justified by the assessee. (AY. 2018-19)