Bench: Shri Vijay Pal Rao & Shri Manjunatha G.आ.अपी.सं / Ita Nos.972 & 973/Hyd/2024
charitable purpose. In other words, in case of the assessment as AOP after denial of benefit u/secs.11 and 12 the income of the assessee is required to be assessed on commercial manner u/sec.56 of the Act and therefore, the expenditure allowable as per the provisions of sec.57 of the act are required to be considered against the gross receipts. Following