https://www.taxtmi.com/caselaws?id=439235 The Income Tax Appellate Tribunal (ITAT) allowed the appeal of a public charitable trust regarding the confirmation of assessment of returned income at Rs. Nil, including deemed income under section 11(3) of Rs. 25,60,000. The ITAT held that the adjustment made under section 143(1) was not legal based on CBDT Instruction No. 1814/1989 and previous court decisions. The ITAT directed the Assessing Officer to delete the adjustment and confirmed that deemed income under section 11(3) is deductible and cannot be adjusted under section 143(1). en-us Wed, 14 Jun 2023 00:00:00 +0530 Tue, 20 Jun 2023 14:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439235 The Income Tax Appellate Tribunal (ITAT) allowed the appeal of a public charitable trust regarding the confirmation of assessment of returned income at Rs. Nil, including deemed income under section 11(3) of Rs. 25,60,000. The ITAT held that the adjustment made under section 143(1) was not legal based on CBDT Instruction No. 1814/1989 and previous court decisions. The ITAT directed the Assessing Officer to delete the adjustment and confirmed that deemed income under section 11(3) is deductible and cannot be adjusted under section 143(1). Case-Laws Income Tax Wed, 14 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439235