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2017 (3) TMI 1738 - BOMBAY HIGH COURTClaim of depreciation to assessee trust - Held that:- Revenue very fairly states that the issue arising herein stands concluded against the Revenue and in favour of the assessee. This by the decision of this Court in Director of Income Tax (Exemption) Mumbai v/s. M/s. G.D. Birla Medical Research and Educational Foundation [2016 (2) TMI 901 - BOMBAY HIGH COURT] decided on 1st February, 2016. In view of the above submission, the question no.(i) as proposed does not give rise to any substantial question of law. Thus not entertained. Allowing the claim of the assessee for carry forward of the said deficit - Held that:- The issue arise herein stands concluded by the decision of this Court in CIT v/s. Institute of Banking [2003 (7) TMI 52 - BOMBAY HIGH COURT] and Director of Income Tax (Exemption) v/s. M/s. Gem & Jewellery Exports Promotion Council [2011 (2) TMI 1511 - BOMBAY HIGH COURT]. In view of the above submission, question no.(ii) as proposed also does not give rise to any substantial question of law. Thus not entertained.
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