U/s 11 (1) (a)

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Querist : Anonymous

Querist : Anonymous (Querist)

30 April 2013 charitable institution - Application of income- Excess expenditure incurred in earlier year- U/s 11 (1) (a), the expenditure incurred in the earlier year can be met out of the income of the subsequent year & utilization of such income for meeting the expeniture of the year would amount to such income being applied for charaitable puposes- Assessee claim to carry forwared deficit in the application of funds justified.

since there are no words of limitation in section 11 (1) (a) expliaining that the income should have been applied for chartiable or religious purposes only in the year in which the income had arsien,

please send case laws in excess of expenditure carried forwared and set off against the income of the subseequent years.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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30 April 2013 DIT Vs. Raghuvanshi Charitable Trust (2010) 8 Taxman.Com 142(Del) may be referred among other decisions.

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