https://www.taxtmi.com/highlights?id=25951 Exemption u/s 11 - The expenditure, if incurred in an earlier year is adjusted against the income of a later year, it has to be held that the trust had incurred expenditure on religious and charitable purposes from the income of the subsequent year, even though the actual expenditure was in the earlier years, if in the books of account of the trust such earlier expenditure had been set off against the income of the subsequent year - AT en-us Mon, 16 Nov 2015 11:37:00 +0530 Mon, 16 Nov 2015 11:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=25951 Exemption u/s 11 - The expenditure, if incurred in an earlier year is adjusted against the income of a later year, it has to be held that the trust had incurred expenditure on religious and charitable purposes from the income of the subsequent year, even though the actual expenditure was in the earlier years, if in the books of account of the trust such earlier expenditure had been set off against the income of the subsequent year - AT Highlights Income Tax Mon, 16 Nov 2015 11:37:00 +0530 https://www.taxtmi.com/highlights?id=25951