Is there any provision to carry forward and set off of excess expenditure in case of trusts, like there is in other businesses?

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Last updated: 04 August 2021
Quick Summary
This case involves a charitable trust appealing a decision that denied them the ability to claim depreciation and carry forward excess expenditure from previous years. The trust argued that depreciation is a separate issue from the application of income and that prior year's excess charitable spending should be offset against current income. The tribunal reviewed the trust's grounds for appeal, including the denial of depreciation and the exclusion of it from the trust's application of funds.

Court :
ITAT Chennai

Brief :
This appeal filed by the assessee is directed against order of learned Commissioner of Income Tax (Appeals)-17, Chennai,dated 29.01.2019 and pertains to assessment year 2014-15. 

Citation :
ITA No.: 518/CHNY/2019

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