Case Law Details
Case Name : ITO Vs Kaivalya Education Foundation (ITAT Mumbai)
Appeal Number : ITA No. 5575/Mum/2017
Date of Judgement/Order : 08/02/2019
Related Assessment Year : 2010-11
Courts :
All ITAT ITAT Mumbai
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ITO Vs Kaivalya Education Foundation (ITAT Mumbai)
Conclusion: Assessee-trust was entitled to claim excess expenditure over income being deficit to be carried forward for setting it off in subsequent years as income derived from trust property had to be computed on commercial principle
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