https://www.taxtmi.com/caselaws?id=268738 The ITAT dismissed the Revenue's appeals for Assessment Years 2008-09 and 2009-10, upholding the CIT (Appeals) decisions. The Tribunal allowed faculty teaching charges payable to Ohio University as application of income for charitable purposes in India, supported the set-off of brought forward expenses, recognized foreign exchange fluctuation losses as deductible, and permitted accumulation of income under Section 11(2) based on charitable trust objectives aligning with Form No.10 purposes. en-us Fri, 09 Oct 2015 00:00:00 +0530 Sat, 05 Mar 2016 18:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268738 The ITAT dismissed the Revenue's appeals for Assessment Years 2008-09 and 2009-10, upholding the CIT (Appeals) decisions. The Tribunal allowed faculty teaching charges payable to Ohio University as application of income for charitable purposes in India, supported the set-off of brought forward expenses, recognized foreign exchange fluctuation losses as deductible, and permitted accumulation of income under Section 11(2) based on charitable trust objectives aligning with Form No.10 purposes. Case-Laws Income Tax Fri, 09 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268738