The Commissioner of Income Tax-I vs. Ascend Telecom Infrastructure Private Limited

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

264 ITR 110, wherein the Division Bench of Bombay High Court held that the income derived from the trust property has also got to be computed on commercial principles and 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

The Commissioner of Income Tax - IV vs. M/s. Mekins Agro Product (P) Ltd.