If commercial principles are applied, then adjustment of ...

Trusts Can Adjust Past Charitable Expenses Against Future Income, Applying Income for Current Charitable Purposes.

April 12, 2019

Case Laws Income Tax HC

If commercial principles are applied, then adjustment of expenses incurred by the trust for charitable and religious purposes in the earlier years against the income earned by the trust in the subsequent year will have to be regarded as application of income of the trust for charitable and religious purposes in the subsequent year in which adjustment had been made.

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If commercial principles are applied, then adjustment of ...

Trusts Can Adjust Past Charitable Expenses Against Future Income, Applying Income for Current Charitable Purposes.

April 12, 2019

Case Laws Income Tax HC

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