https://www.taxtmi.com/caselaws?id=285819 The Appellate Tribunal ITAT Mumbai upheld the decision of the Ld.CIT(A) to disallow the standard deduction of 30% from rental income for a charitable trust under section 24(a) of the Income Tax Act. The Tribunal emphasized the exemption of income for charitable trusts under Chapter III of the Act and the classification of income forming part of the total income under section 2(45) of the Act. The decision was supported by a previous ruling related to the appellant's case for AY 2004-05, resulting in the dismissal of the appeal. en-us Fri, 25 Jul 2014 00:00:00 +0530 Wed, 29 Jan 2020 06:49:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285819 The Appellate Tribunal ITAT Mumbai upheld the decision of the Ld.CIT(A) to disallow the standard deduction of 30% from rental income for a charitable trust under section 24(a) of the Income Tax Act. The Tribunal emphasized the exemption of income for charitable trusts under Chapter III of the Act and the classification of income forming part of the total income under section 2(45) of the Act. The decision was supported by a previous ruling related to the appellant's case for AY 2004-05, resulting in the dismissal of the appeal. Case-Laws Income Tax Fri, 25 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285819