POONA PANJARPOLE TRUST,PUNE vs. INCOME TAX OFFICER (EXEMPTION), WARD-1(2), PUNE
In the result, the appeal filed by the assessee stands allowed
ITA 163/PUN/2023[2017-18]Status: DisposedITAT Pune06 Oct 2023AY 2017-18
For Appellant: Shri Suhas BoraFor Respondent: Shri M. G. Jasnani
Section 11Section 12ASection 143(3)Section 194ASection 80G
194A of the Act, the interest income partakes the character of revenue receipt and, therefore, formed part of the income of the assessee trust since the income was not applied for charitable purposes and no application was filed for carry forward. Therefore, the same should be taxed as income.
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4. Being aggrieved by the above decision of the NFAC
