https://www.taxtmi.com/caselaws?id=464270 ITAT MUMBAI held that the assessee is entitled to carry forward the deficit arising from excess application of funds under s.11(1)(a) where over 85% of income was applied to charitable purposes. Relying on earlier HC rulings adopting the same view, the Tribunal allowed the assessee's claim and dismissed the Revenue's appeals. en-us Fri, 19 Jul 2019 00:00:00 +0530 Wed, 15 Oct 2025 16:44:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464270 ITAT MUMBAI held that the assessee is entitled to carry forward the deficit arising from excess application of funds under s.11(1)(a) where over 85% of income was applied to charitable purposes. Relying on earlier HC rulings adopting the same view, the Tribunal allowed the assessee's claim and dismissed the Revenue's appeals. Case-Laws Income Tax Fri, 19 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464270