https://www.taxtmi.com/caselaws?id=780205 ITAT, Mumbai allowed the trust's claim of exemption under s.10(34) and s.10(35) for dividend and unit income, directing the AO to give effect following a coordinate-bench decision. The Tribunal held that deficits from excess application to charitable purposes can be carried forward and set off against future income. It found the trust's earlier 12A registration could be treated as voluntarily relinquished and held the cancellation effective from 20 Mar 2015 to that limited extent. Claims under ss.80G and 80GGA were directed to be allowed after factual verification; some 80G claims were partly disallowed where not made in the return. en-us Fri, 10 Oct 2025 00:00:00 +0530 Sat, 25 Oct 2025 09:00:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780205 ITAT, Mumbai allowed the trust's claim of exemption under s.10(34) and s.10(35) for dividend and unit income, directing the AO to give effect following a coordinate-bench decision. The Tribunal held that deficits from excess application to charitable purposes can be carried forward and set off against future income. It found the trust's earlier 12A registration could be treated as voluntarily relinquished and held the cancellation effective from 20 Mar 2015 to that limited extent. Claims under ss.80G and 80GGA were directed to be allowed after factual verification; some 80G claims were partly disallowed where not made in the return. Case-Laws Income Tax Fri, 10 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780205