Surplus generated from Trust can’t be added to Income of AOP: ITAT [Read Order]

Surplus - trust - income - AOP - ITAT - taxscan

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that surplus generated from trust can’t be added to the income of assessee Association Of Person (AOP). The Revenue challenges the order of CIT(A) deleting the addition made by the AO towards the amount transferred to the society holding the same as the…

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