TMI Blog2012 (11) TMI 983X X X X Extracts X X X X X X X X Extracts X X X X ..... he adjustment of the expenses incurred by the trust for charitable and religious purposes in the earlier year against income earned by the trust in the subsequent year will have to be regarded as application of income of the trust for charitable and religious purposes in the subsequent year in which such adjustment has been made having regard to the benevolent provisions contained in section 11 of the Act and will have to be excluded from the income of the trust under section 11(1)(1) of the Act – In favor of assessee - TAX APPEAL No. 2484 of 2010 - - - Dated:- 11-1-2012 - MR. AKIL KURESHI AND MS SONIA GOKANI JJ. Appearance: Mr. Manish Bhatt, learned sr.counsel with MRS MAUNA M BHATT for Appellant(s): 1, ORAL ORDER ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... absence of any specific directions to that effect, order of the tribunal not confirming order of Assessing Officer is being challenged here requiring consideration of this Court. It has been although candidly pointed out by her that in Tax Appeal No.1050/2009, learned counsel for assessee had pointed out a resolution of the Government containing a specific direction that voluntary contribution made to the society would form part of corpus of the trust and fairly stated that the said resolution would also apply in the instant case. In case of this very assessee for the assessment year 20042005, when cognate Bench of this Court has in terms held that the income in the form of voluntary contributions made with a specific direction that th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be carried forward and set off against the income of the succeeding year. 4. Revenue challenge the order of CIT(Appeals) before the Tribunal. Tribunal vide its order dated 11.6.2010 followed the decision of this Court in case of Commissioner of Income Tax Vs. Shri Plot Swetamber Murti Pujak Jain Mandal reported in 211 ITR 293 ratio laid down by this Court in the said decision is as follows : A bare perusal of the above-referred provisions of the Act shows that the income derived from property held under trust wholly for charitable or religious purposes to the extent to which such income is applied to such purposes in India is to be excluded for the purposes of computing the income of the trust for the purpose of assessment. There are n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... income earned by the trust in the subsequent year will have to be regarded as application of income of the trust for charitable and religious purposes in the subsequent year in which such adjustment has been made having regard to the benevolent provisions contained in section 11 of the Act and will have to be excluded from the income of the trust under section 11(1)(1) of the Act. 5. It is candidly pointed out by learned senior counsel Mr.Manish Bhatt that recently Delhi High Court's judgement of Raghvanshi Charitable Trust and others Vs. DIT reported in (2011) 221 Taxation 250 decided on 27th July, 2010, as also decided the issue on similar line. Question having been concluded by this Court with no other material aspect being brought to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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