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1. Assessment of trust - Exemption u/s 11 - The expenditure, if incurred in an earlier year is adjusted against the income of a later year, it has to be held that the trust...

2. Exemption u/s 11 - Excess expenditure incurred by the trust/charitable institution in earlier assessment year could be allowed to be set off against income of subsequent...

3. Exemption u/s 11 - The expenditure, if incurred in an earlier year is adjusted against the income of a later year, it has to be held that the trust had incurred...

4. Assessment u/s 153A - Exemption u/s 11 - Carry forward of the deficit being excess of expenditure over income to the subsequent years - the Hon’ble Supreme Court has...

5. Exemption u/s 11 - in case of Charitable Trust excess expenditure over income is to be allowed to be carried forward for setting off against income of subsequent years....

6. Set off of current year business loss against foreign dividend income - levy of tax u/s 115BBD on gross foreign dividend income - assessee would be entitled for set off...

7. Exemption u/s 11 - Accumulation of income - Carry forward of deficit - Carry forward of excess expenditure carried forward from the earlier assessment years - The...

8. Application of income of the Trust u/s 11 - Carry forward and set off of losses - if commercial principles are applied then adjustment of expenses incurred by the Trust...

9. Exemption u/s 11 - Claim of set off of carry forward of losses - if commercial principles are applied then adjustment of expenses incurred by the trust for charitable...

10. The trust had incurred expenditure on religious and charitable purposes from the income of the subsequent year, even though the actual expenditure was in the earlier...

11. It has to be held that the trust had incurred expenditure on religious and charitable purposes from the income of the subsequent year, even though the actual expenditure...

12. Exemption u/s 11 - claim of set off of brought forward expenses and carry forward of current year expenditure incurred in excess of its income for setting off against...

13. Exemption u/s 11 - status of the assessee trust - The assessee trust is irrevocable trust which is duly registered under section 12A and thus, eligible for exemption u/s...

14. Set off of brought forward business loss - mistakes in previous years for not claiming benefit of set-off - 8 years time limit provided in the statute - The ITAT found...

15. Exemption u/s 11 - section 2(15) Applicability - Carry forward and set off of unabsorbed deficit - the assessee is entitled to claim set off of brought forward excess...