Assessee, a trust running educational institute, was granted registration under section 12A. Authorized Officer conducted a search upon assessee on 6-8-2013 and found that assessee had collected capitation fees in cash for granting admission and such fees was being siphoned off by trustees for their personal use. Principal Commissioner considering search and seizure report cancelled registration of assessee for reasons that it had been indulging in collection of capitation fees and such fees was siphoned off by trustees for their personal benefits. On appeal the Tribunal held that   since reasons for cancellation of registration were based on material found during course of search conducted on 6-8-2013 upon assessee and assessment order framed based on above material was sustained by Commissioner (Appeals) as well as by Tribunal, Principal Commissioner had rightly cancelled registration of assessee.