https://www.taxtmi.com/highlights?id=45842 If commercial principles are applied, then adjustment of expenses incurred by the trust for charitable and religious purposes in the earlier years against the income earned by the trust in the subsequent year will have to be regarded as application of income of the trust for charitable and religious purposes in the subsequent year in which adjustment had been made. en-us Fri, 12 Apr 2019 05:07:18 +0530 Fri, 12 Apr 2019 05:07:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=45842 If commercial principles are applied, then adjustment of expenses incurred by the trust for charitable and religious purposes in the earlier years against the income earned by the trust in the subsequent year will have to be regarded as application of income of the trust for charitable and religious purposes in the subsequent year in which adjustment had been made. Highlights Income Tax Fri, 12 Apr 2019 05:07:18 +0530 https://www.taxtmi.com/highlights?id=45842