2019 (4) TMI 1043

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..... Poona. [ 2017 (12) TMI 1067 - SUPREME COURT ] . Carry forward of deficit and allowing set off against the income of the subsequent years - allowing the deficit will tantamount to double deduction on account of expenditure out of exempt income - HELD THAT:- Excess expenditure incurred by the trust/charitable institution in earlier assessment year could be allowed to be set off against .....

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..... apital expenditure incurred on assets acquired for the objects of the trust as application and does not specifically expressly provide for double deduction on account of depreciation on the same very assets acquired from such capital expenditure, no deduction shall be allowed u/s. 32 for the same or any other previous year in respect of that asset as it amounts to claiming a double deduction? .....

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..... This order reads thus: In this application filed by the Income Tax Department it is stated that Civil Appeal No.5171 of 2016 arises out of Special Leave Petition (C) CC No.8982/2016 was tagged with other appeals and the batch matters were decided by this Court on 13.12.2017. However, the following question was also raised in the instant appeal which was not the subject matter of those appeal .....

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