https://www.taxtmi.com/caselaws?id=242769 The Tribunal allowed the appeal, overturning the disallowance of brought forward and set off loss by the ld. CIT (Appeals). The Tribunal held in favor of the assessee, emphasizing its entitlement to carry forward the excess expenditure on charity over income for future set off, despite the income being exempt u/s 11. The Tribunal directed the AO to reevaluate and recalculate the correct amount of loss for the current and earlier years, setting aside the previous order for proper computation and carry forward of losses. en-us Fri, 17 Jan 2014 00:00:00 +0530 Mon, 20 Jan 2014 07:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242769 The Tribunal allowed the appeal, overturning the disallowance of brought forward and set off loss by the ld. CIT (Appeals). The Tribunal held in favor of the assessee, emphasizing its entitlement to carry forward the excess expenditure on charity over income for future set off, despite the income being exempt u/s 11. The Tribunal directed the AO to reevaluate and recalculate the correct amount of loss for the current and earlier years, setting aside the previous order for proper computation and carry forward of losses. Case-Laws Income Tax Fri, 17 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242769