{"id":31090,"date":"2022-12-10T12:44:47","date_gmt":"2022-12-10T07:14:47","guid":{"rendered":"https:\/\/itatonline.org\/digest\/dcite-v-uti-institute-of-capital-markets-2022-194-itd-149-mum-trib\/"},"modified":"2022-12-10T12:44:47","modified_gmt":"2022-12-10T07:14:47","slug":"dcite-v-uti-institute-of-capital-markets-2022-194-itd-149-mum-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/dcite-v-uti-institute-of-capital-markets-2022-194-itd-149-mum-trib\/","title":{"rendered":"DCIT(E) v. UTI Institute of Capital Markets (2022) 194 ITD 149 (Mum.)(Trib.)"},"content":{"rendered":"<p>Held that a trust could be allowed to carry forward deficits of earlier years and set it off against surplus of subsequent years.\u00a0 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.)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 11 : Property held for charitable purposes-Application of income-Trust is allowed   to carry forward deficits of earlier years and set it off against surplus of subsequent years-Accumulation of income-Amendment is applicable from 1-4-2022 and will, accordingly, apply in relation to assessment year 2022-23 and subsequent assessment years. [S. 10(23C)] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-31090","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-85s","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/31090","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=31090"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/31090\/revisions"}],"predecessor-version":[{"id":31091,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/31090\/revisions\/31091"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=31090"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=31090"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=31090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}