2014 (7) TMI 1318

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..... BAI] wherein similar claim of the assessee has been rejected by the Tribunal on the reason that the income of a charitable trust is exempt from tax under chapter III of the Act and the said income does not form part of the total income of the entity. It is only the income forming part of the total income us/ 2(45) of the Act which is to be classified under various heads of income u/s 14. Accor .....

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..... filed by the Assessee is directed against the order of the Ld.CIT(A)-39, Mumbai dated 28.12.2011 for the Assessment Year 2008-09. 2. In this appeal, the assessee has agitated the decision of the Ld.CIT(A) in not allowing standard deduction of 30% from rental income as available u/s 24(a) of the Income Tax Act as the assessee is a charitable trust which is claiming deduction u/s 11(1)( .....

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..... x Court and the Tribunal. Since, similar issue of allowability of the claim made u/s 24 has been denied by the Tribunal in the assessee s own case for the AY 2004-05, we are of the considered view that the present appeal filed by the assessee deserves to be dismissed and thus the order of the Ld.CIT(A) is upheld. 4. In the result, the appeal filed by the Assessee is dismissed. .....

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