https://www.taxtmi.com/caselaws?id=189444 The ITAT partially allowed the Revenue's appeal, upholding relief granted by the Ld. CIT(A) on most issues. The ITAT directed the AO to verify the provision for gratuity due to lack of submitted documents by the assessee. The allowance of depreciation on fixed assets and deficit set off was upheld based on a Bombay High Court decision from a previous year. Adjusting excess expenditure against subsequent year's income was deemed permissible for charitable trusts. The judgment emphasized the importance of verifying claims, following legal precedents, and ensuring charitable trust income is appropriately utilized. en-us Tue, 13 Jan 2015 00:00:00 +0530 Tue, 10 Jan 2017 12:54:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189444 The ITAT partially allowed the Revenue's appeal, upholding relief granted by the Ld. CIT(A) on most issues. The ITAT directed the AO to verify the provision for gratuity due to lack of submitted documents by the assessee. The allowance of depreciation on fixed assets and deficit set off was upheld based on a Bombay High Court decision from a previous year. Adjusting excess expenditure against subsequent year's income was deemed permissible for charitable trusts. The judgment emphasized the importance of verifying claims, following legal precedents, and ensuring charitable trust income is appropriately utilized. Case-Laws Income Tax Tue, 13 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189444