https://www.taxtmi.com/caselaws?id=411346 The Tribunal upheld the CIT(A)'s decision to allow the carry forward of deficit of Rs. 6,40,70,201 for A.Y. 2014-15 under section 12A of the Income-tax Act. The Tribunal dismissed the revenue's appeal, emphasizing that excess expenditure incurred in earlier years can be adjusted against income of subsequent years for charitable purposes, based on consistent judicial interpretations and alignment with the Hon'ble jurisdictional High Court's ruling. en-us Wed, 28 Jul 2021 00:00:00 +0530 Mon, 23 Aug 2021 12:12:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411346 The Tribunal upheld the CIT(A)'s decision to allow the carry forward of deficit of Rs. 6,40,70,201 for A.Y. 2014-15 under section 12A of the Income-tax Act. The Tribunal dismissed the revenue's appeal, emphasizing that excess expenditure incurred in earlier years can be adjusted against income of subsequent years for charitable purposes, based on consistent judicial interpretations and alignment with the Hon'ble jurisdictional High Court's ruling. Case-Laws Income Tax Wed, 28 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411346