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2018 (2) TMI 2062 - AT - Income TaxExemption u/s 11 - Carry forward of deficit and allowing set off against the income of subsequent years - Assessee is a registered trust under section 12A of the Act and also registered with charity commissioner Mumbai - HELD THAT:- We find that this issue is squarely covered by the decision of Hon’ble Bombay High Court in the case of Institute of Banking Personnel [2003 (7) TMI 52 - BOMBAY HIGH COURT] and Revenue’s main grievance is that the department has not accepted the Judgement of Hon’ble Bombay High Court and want to keep the issue alive, the order of CIT(A) is challenged. We find that the Revenue is clearly accepting that the order of CIT(A) is covered by the decision of Hon’ble Bombay High Court and respectively following the same, we confirm the order of CIT(A) and dismiss this appeal of Revenue.
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