https://www.taxtmi.com/caselaws?id=369532 The Tribunal dismissed the Revenue's appeal against the CIT(A)'s decision in favor of the Assessee trust, allowing the set off of brought forward expenses and carry forward of current year expenditure against income of succeeding years as application of income for charitable trusts under sections 11, 12, and 13. The Tribunal held that such adjustments can be considered as application of income for later years, ensuring income exemption under section 11. The appeal lacked merit based on legal principles and precedents, leading to its dismissal. en-us Mon, 24 Sep 2018 00:00:00 +0530 Tue, 30 Oct 2018 16:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369532 The Tribunal dismissed the Revenue's appeal against the CIT(A)'s decision in favor of the Assessee trust, allowing the set off of brought forward expenses and carry forward of current year expenditure against income of succeeding years as application of income for charitable trusts under sections 11, 12, and 13. The Tribunal held that such adjustments can be considered as application of income for later years, ensuring income exemption under section 11. The appeal lacked merit based on legal principles and precedents, leading to its dismissal. Case-Laws Income Tax Mon, 24 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369532