Unregistered Charitable Trust Can Claim Section 57(iii) Deduction Against Gross Receipts: ITAT Mumbai

St. Johns Marthoma Syrian Church Vs Assessing Officer (ITAT Mumbai) Unregistered Charitable Trust Can Claim Deduction Under Section 57(iii); Gross Receipts Cannot Be Taxed Mumbai ITAT held that even if a charitable trust is not registered under sections 12A/12AB and is consequently denied exemption under section 11, it is still entitled to claim deduction of expenditure under section 57(iii) while computing income assessable under the head “Income from Other Sources.” The Tribunal observed that the Revenue cannot tax the gross receipts without allowing legitimate expenditure incurr...