https://www.taxtmi.com/caselaws?id=175356 The Appellate Tribunal upheld the orders of the ld. CIT(A) in both Asst. Years 2006-07 and 2007-08, dismissing the Revenue's appeals. The Tribunal determined that unabsorbed expenditure over income could be carried forward to subsequent years for adjustment against receipt/income, in line with decisions of the Jurisdictional High Court. The Tribunal considered grants-in-aid as contributions to corpus and excluded them from income computation under section 11. en-us Fri, 11 Jun 2010 00:00:00 +0530 Wed, 18 Nov 2015 18:10:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175356 The Appellate Tribunal upheld the orders of the ld. CIT(A) in both Asst. Years 2006-07 and 2007-08, dismissing the Revenue's appeals. The Tribunal determined that unabsorbed expenditure over income could be carried forward to subsequent years for adjustment against receipt/income, in line with decisions of the Jurisdictional High Court. The Tribunal considered grants-in-aid as contributions to corpus and excluded them from income computation under section 11. Case-Laws Income Tax Fri, 11 Jun 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=175356