Trust not registered U/s 12AA- AO directed to allow expenditure & Tax Surplus

Joharimal High School Vs ITO (ITAT Cuttack)

Undisputedly rather admittedly, the assessee does not enjoy registration u/s.12AA of the Act and as per e-return filed before the Bench, as per column 3, the assessee has shown receipt of income of Rs.97,10,521/- and as per column 4(i), amount applied during the previous year or expenditure incurred during the previous year as per revenue account was Rs.73,10,521/-. In absence of registration u/s.12AA of the Act, the assessee has to be treated as an AOP for the purpose of calculati

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