2012 (11) TMI 983

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... following questions of law for determination of this Court: [A] Whether on the facts and circumstances of the case, the Tribunal was justified in deleting the addition of Rs.31,03,25,670/- made in accordance with the provisions contained in section 12(1) of the I.T.Act, 1961   [B] Whether on the facts and circumstances of the case, the Appellate Tribunal is justified in upholding the order of CIT(A), allowing the assessee to carry forward excess of expenditure over income to subsequent years, even though there is no provision in the Income Tax Act to allow and carry forward unabsorbed application where income is computed u/s. 11 and 13 of the Act ? 2. Heard learned senior counsel Mr. Manish Bhatt appearing for the Revenue and....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ts impugned order. This issue being squarely covered by the decision of this Court in Tax Appeal No.1050/2009, we see no reason to take a different view. With there being no question of law arising before this Court in the said premise, this appeal deserves to be dismissed. Ordered accordingly." As this issue is being identical, requires no further consideration. 3. Second question discussed in earlier Tax Appeal No. 2483 of 2010 observed as under: "2. Heard learned senior counsel Mr.Manish Bhatt appearing for the Revenue and with his assistance examining the record placed before this Court. It emerges that the assessee-respondent is registered under the Societies Registration Act for advancement and promotion of science and techno....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....rovisions of section 11 of the Act, it is clear that when the income of a trust is used or put to use to meet the expenses incurred for religious or charitable purposes, it is applied for charitable or religious purposes. The said application of the income for charitable or religious purposes takes place in the year in which the income is adjusted to meet the expenses incurred for charitable or religious purposes. In other words, even if expenses for charitable and religious purposes have been incurred for the earlier year and the said expenses are adjusted against the income of a subsequent year, the income of that year can be said to have been applied for charitable and religious purposes in the year in which the expenses incurred for cha....