INCOME TAX ACT, 1961

Section 11

Charitable trust - Exemption under section 11 - Carry forward and set-off of excess application of income to subsequent years -

Assessee was a public charitable trust running a community general hospital and it was duly registered under section 12AA. Return of income for relevant year was filed claiming exemption under section 11. Assessment was completed under section 143(3) at Nil income. However, AO had not allowed carry forward of excess application of income to the subsequent assessment years. Held: The issue is no longer res integra as per the decision of Supreme Court in case of CIT v. Subros Educational Society [2018 TaxPub(DT) 3810 (SC)], wherein it was held that eligible trust which are enjoying the registration under section 12AA are entitled to carry forward and set off of the excess application of income.

Followed:CIT v. Subros Educational Society [2018 TaxPub(DT) 3810 (SC)]

REFERRED :

FAVOUR : In assessee's favour

A.Y. :

INCOME TAX ACT, 1961

Section 11 Section 32

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