https://www.taxtmi.com/caselaws?id=271483 The Tribunal ruled in favor of the assessee trust, allowing the benefit of Section-11 of the Act and excluding corpus donations from total income. However, the Tribunal disallowed the carry forward of excess application of funds, treating the loss on sale of assets and depreciation claim as double deductions. The claim of bad debts was allowed as an application of income if the receivables were previously included as income. The Tribunal partially allowed the appeal, dismissing the stay petition as infructuous. en-us Fri, 01 Jan 2016 00:00:00 +0530 Sat, 30 Apr 2016 12:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271483 The Tribunal ruled in favor of the assessee trust, allowing the benefit of Section-11 of the Act and excluding corpus donations from total income. However, the Tribunal disallowed the carry forward of excess application of funds, treating the loss on sale of assets and depreciation claim as double deductions. The claim of bad debts was allowed as an application of income if the receivables were previously included as income. The Tribunal partially allowed the appeal, dismissing the stay petition as infructuous. Case-Laws Income Tax Fri, 01 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271483