The assessee claimed to be engaged in of doing welfare of ex-servicemen by providing them and their family members with employment. It furnished return of income claiming exemption under section 10(26BBB). AO allowed the claim. Commissioner passed a revisional order holding that since assessee was not ‘established by a Central, State or Provincial Act’, it stood disqualified at the threshold itself for exemption under section 10(26BBB)  of the Act .  Dismissing the appeal of the assessee the Tribunal held that, since the assessee filed to satisfy the conditions of section 10(26BBB) and Assessing Officer did not examine this issue at all, therefore, the Commissioner was justified in setting aside the assessment order and to enhance the income of assessee by holding that assessee is not entitled for exemption under the provisions of section 10(26BBB). Assessee-corporation was merely registered under Companies Act as any other company hence not entitle to exemption as corporation. ( AY.2010-11)