https://www.taxtmi.com/caselaws?id=402884 The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s order allowing the carry forward of the deficit for a charitable trust. The decision was based on the interpretation of the Income Tax Act in line with commercial principles and supported by precedents from the Karnataka and Bombay High Courts. The Tribunal held that the carry forward did not result in double benefits to the assessee and was consistent with legal precedents. The appeal was dismissed on 12th January 2021. en-us Tue, 12 Jan 2021 00:00:00 +0530 Thu, 14 Jan 2021 11:41:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402884 The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s order allowing the carry forward of the deficit for a charitable trust. The decision was based on the interpretation of the Income Tax Act in line with commercial principles and supported by precedents from the Karnataka and Bombay High Courts. The Tribunal held that the carry forward did not result in double benefits to the assessee and was consistent with legal precedents. The appeal was dismissed on 12th January 2021. Case-Laws Income Tax Tue, 12 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402884