Commissioner Of Income Tax (Exemption) vs Subros Educational Society on 20 September, 2021
13. We have considered the submissions of the learned D.R. and perused
the material available on record. We find that on similar issue, the Hon'ble
Supreme Court in Subros Educational Society (supra) held that any excess
expenditure incurred by the trust / charitable institution in earlier
assessment year would be allowed to be set-off against income of the
subsequent years by invoking the provisions of section 11 of the Act.