https://www.taxtmi.com/caselaws?id=14496 HC held that a religious/charitable trust's expenditures properly incurred for charitable purposes remain deductible even if accounted in an earlier year and carried forward or adjusted against income of a subsequent year; income out of which such charitable expenditure is incurred is not taxable. Only expenditures solely for religious or charitable purposes qualify for adjustment. Because the impugned order failed to apply this principle, HC set it aside and remanded the matter to the Director of Income-tax (Exemptions) for fresh consideration in accordance with law. en-us Sat, 24 Oct 1998 00:00:00 +0530 Thu, 09 Oct 2025 20:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14496 HC held that a religious/charitable trust's expenditures properly incurred for charitable purposes remain deductible even if accounted in an earlier year and carried forward or adjusted against income of a subsequent year; income out of which such charitable expenditure is incurred is not taxable. Only expenditures solely for religious or charitable purposes qualify for adjustment. Because the impugned order failed to apply this principle, HC set it aside and remanded the matter to the Director of Income-tax (Exemptions) for fresh consideration in accordance with law. Case-Laws Income Tax Sat, 24 Oct 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14496