Charitable Trust eligible for 30% Standard deduction against House Property Income

Vishwa Kalyan Society Vs DCIT (ITAT Ahmedabad) Brief facts of the case are, that the assessee is a Charitable Trust, having income under the heads Income from House Property and Income from Other Sources. The assessee has filed its return of income online on 29-09-­2012 showing taxable income as NIL with a refund claim of Rs. 1,11,710. The said return was processed by centralized Processing Center of Income Tax Department, Bangalore. An intimation u/s 143(1) of the Act was issued on 03-03-2017 by Deputy Commissioner of Income Tax CPC, Bangalore and a demand of Rs. 1,24,770/- was imposed on ac...