https://www.taxtmi.com/caselaws?id=361129 The ITAT Mumbai upheld the CIT(A)'s decision allowing the carry forward of deficits from earlier years to set off against the surplus of the current and subsequent years for charitable purposes. The Revenue's appeal was dismissed, and the assessee's Cross Objection was allowed for statistical purposes, leading to the matter being remanded back to the AO for further evaluation. The judgments referred to, including those of the Co-ordinate Bench and the Hon'ble Bombay High Court, supported this outcome. en-us Thu, 24 May 2018 00:00:00 +0530 Tue, 29 May 2018 13:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361129 The ITAT Mumbai upheld the CIT(A)'s decision allowing the carry forward of deficits from earlier years to set off against the surplus of the current and subsequent years for charitable purposes. The Revenue's appeal was dismissed, and the assessee's Cross Objection was allowed for statistical purposes, leading to the matter being remanded back to the AO for further evaluation. The judgments referred to, including those of the Co-ordinate Bench and the Hon'ble Bombay High Court, supported this outcome. Case-Laws Income Tax Thu, 24 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361129