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20. The satisfaction of statutory conditions of Sections 11, 12 & 13 of the Act, for the purpose of grant of registration u/s 12A r.w. Section 12AA of the Act, are not relevant. However, the ld. CIT heavily relied on the issue of corpus fund and secured loans, raised by the appellant society, in concluding the activities of the appellant as non-genuine. The nature and source of corpus funds and secured loans are required to be examined by the AO, in the light of the provisions of Section 11, 12, 13 r.w. Sections 2(24) (iia) and Section 15 BBC of the Act. It is incumbent upon the CIT, to decide the issue of granting or decline of registration, only within statutory preconditions as laid down u/s 12A read with Section 12AA of the Act. Needless to state here that registration proceedings u/s 12A r.w. Section 12AA of the Act before the CI T, are not the same as assessment proceedings before the AO. Both the proceedings before different revenue authorities are different and independent, with different statutory subject matter and jurisdiction. Further, the grant of registration u/s 12AA of the Act is not in itself conclusive and the sole statutory condition, for the purpose of exemption of income of the Trust or the Institution, as statutory conditions of Section 11, 12 & 13 of the Act are required to be satisfied, for such exemption. Therefore, grant of registration confers merely entitlement to such exemption, on satisfaction of statutory conditions prescribed under other relevant provisions of the Act. The grant of registration u/s 12AA of the Act, is not eternal in nature, as the legislature has provided safeguard u/s 12AA(3) of the Act, to protect the interest of revenue and the CIT is competent to cancel such registration, if he is subsequently satisfied that activities of the trust or institution are not being carried out, in accordance with its objects. In the present case, the ld. CIT has rejected grant of registration u/s 12A r.w. Section 12AA of the Act, on observations not relevant to the legislative intent, embodied in such statutory provisions.