2019 (2) TMI 528

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... eneral commercial principles - Held that:- Substantial questions of law covered by the judgment of COMMISSIONER OF INCOME TAX VS. RAJASTHAN AND GUJARATI CHARITABLE FOUNDATION POONA [2017 (12) TMI 1067 - SUPREME COURT]. - Decided in favour of the Assessee. Entitlement to carry forward of deficit to assessee trust - Held that:- Substantial questions of law covered by the judgment of COMMISSIONER .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ithout referring to the regular provisions of Income Tax as contained under Chapter IV and as such while arriving at the income of a charitable or religious trust / institution, various heads of income as contemplated under Section 14 and specific provisions of computation of income under respective heads as envisaged under Section 15 to 59 are not pressed into action? ii.Whether on the fac .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ed by the judgment of the Hon'ble Supreme Court in the case of COMMISSIONER OF INCOME TAX VS. RAJASTHAN AND GUJARATI CHARITABLE FOUNDATION POONA, reported in (2018) 300 CTR 0001 (SC). Following the aforesaid judgment, the substantial questions of law at Sl.No.(i) and (iii) are answered in favour of the Assessee and against the Revenue. 3. The question of law at Sl.No.(ii) is covered by the .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X