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2010 (7) TMI 158 - HC - Income TaxCharitable Trust - Carry forward and set off the deficit / losses – application of income - section 11, section 13 – Held that: - the adjustment of the expenses incurred by the trust for charitable and religious purposes in the earlier year against the income earned by the trust in the subsequent year would amount to applying the income of the trust for charitable and religious purposes in the subsequent year in which such adjustment has been made and will have to be excluded from the income of the trust u/s 11(1)(a) of the Act
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