Held that a trust could be allowed to carry forward deficits of earlier years and set it off against surplus of subsequent years.  Held that Explanation 2 inserted after Explanation 1 under section 10(23C) which provides that calculation of income required to be applied or accumulated during previous year shall be made without any set-off or deduction or allowance of any excess application of any of year preceding previous year is applicable from 1-4-2022 and will, accordingly, apply in relation to assessment year 2022-23 and subsequent assessment years. (AY.)