https://www.taxtmi.com/caselaws?id=456539 ITAT Mumbai allowed the assessee's appeal regarding exemption under Section 11. The assessee, registered under Section 12A, was initially denied benefits under Sections 11 and 12 by the AO. While CIT(A) granted registration benefits, it disallowed expenses for trust objects and administrative costs. ITAT held that registered trusts under Section 12A are entitled to Section 11 and 12 benefits, including deduction for expenses incurred on trust objects as application of income. The AO was directed to allow such deductions. en-us Thu, 28 Sep 2023 00:00:00 +0530 Wed, 31 Jul 2024 20:21:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456539 ITAT Mumbai allowed the assessee's appeal regarding exemption under Section 11. The assessee, registered under Section 12A, was initially denied benefits under Sections 11 and 12 by the AO. While CIT(A) granted registration benefits, it disallowed expenses for trust objects and administrative costs. ITAT held that registered trusts under Section 12A are entitled to Section 11 and 12 benefits, including deduction for expenses incurred on trust objects as application of income. The AO was directed to allow such deductions. Case-Laws Income Tax Thu, 28 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456539