https://www.taxtmi.com/caselaws?id=398367 The tribunal held that the Commissioner of Income Tax (Appeals) erred in denying the deduction for income applied outside India under section 11(1)(c) of the Income Tax Act, despite the appellant having CBDT approval. The tribunal allowed the assessee's claim for exemption for both assessment years. Additionally, the tribunal upheld the CIT(A)'s direction to allow the carrying forward of a deficit on account of excess expenditure, following a precedent set by the jurisdictional High Court. The appeals filed by the assessee were allowed, while the appeal filed by the Assessing Officer was dismissed. en-us Fri, 24 Jul 2020 00:00:00 +0530 Mon, 14 Sep 2020 09:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398367 The tribunal held that the Commissioner of Income Tax (Appeals) erred in denying the deduction for income applied outside India under section 11(1)(c) of the Income Tax Act, despite the appellant having CBDT approval. The tribunal allowed the assessee's claim for exemption for both assessment years. Additionally, the tribunal upheld the CIT(A)'s direction to allow the carrying forward of a deficit on account of excess expenditure, following a precedent set by the jurisdictional High Court. The appeals filed by the assessee were allowed, while the appeal filed by the Assessing Officer was dismissed. Case-Laws Income Tax Fri, 24 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398367