Trust Loses Section 12AA Status; Income Exceeds Section 2(15) Threshold, No Exemption u/s 11 per Section 13(8.

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....Registration of the trust granted u/s. 12AA withdrawn - even when some of the objects may be hit by the first proviso to Section 2(15) and the assessee's receipts from such activities do exceed specified threshold, no prejudice will be caused to the legitimate interests of the revenue because, notwithstanding the status of registration and by the virtue of section 13(8), the assessee will not be eligible for exemption under section 11 in respect of such income - AT....