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2024 (2) TMI 839 - ITAT PUNEAssessment of trust - Disallowance of revenue expenditure - AO disallowed 10% of the revenue expenditure as the assessee has failed to prove the genuineness of the expenditure - HELD THAT:- We find merit in the submission made on behalf of the assessee trust that disallowance of revenue expenditure would only inflate the surplus income of the assessee trust. Since the surplus income does not exceed 15% of the total receipts of the assessee trust, the same has to be carried forward for subsequent application of this income for charitable purposes. Therefore, no addition is called for. The additional ground of appeal filed by the assessee stands allowed.
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