2019 (7) TMI 1941

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....For the Respondent : None. ORDER PER PRADIP KUMAR KEDIA - AM : The captioned appeal has been filed at the instance of the Revenue against the order of the Commissioner of Income Tax (Appeals)-7, Ahmedabad, ('CIT(A)' in short), dated 17.11.2017 arising in the assessment order dated 28.12.2016 passed by the Assessing Officer (AO) under s. 143(3) of the Income Tax Act, 1961 (the Act) concern....

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....ng year. 4. In the first appeal against the aforesaid action of the AO, the CIT(A) allowed carry forward of excess expenses over next years. 5. Aggrieved by the order of the CIT(A), the Revenue is in appeal before the Tribunal. 6. The learned DR for the Revenue relied upon the order of the AO. None appeared on behalf of the assessee. 7. We have carefully perused the orders of the autho....

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....ious trusts only in the year in which such income has arisen. The expenditure incurred in an earlier year can be met out of the income of the subsequent year and utilization of such income for meeting the expenditure of the earlier year would amount to such income being applied for charitable or religious trusts. The Hon'ble Gujarat High Court further held that income derived from Trust property h....