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2022 (4) TMI 224 - AT - Income TaxAssessment of trust - Carry forward and set off of excess deficit pertaining to earlier years against the income of the current year - whether the deficit of earlier years can be set off against income of the current assessment year or not? - CIT-A allowed the claim - HELD THAT:- This issue has been decided in favour of the assessee by various High Courts including the jurisdictional High Court in the case of DIT Vs. Raghuvanshi Charitable Trust [2010 (7) TMI 158 - DELHI HIGH COURT] Thus the claim of the assessee for set off of earlier years deficit against current year's income. We see no infirmity in the order passed by the ld. CIT (Appeals). Thus, the grounds raised by the Revenue are rejected.
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