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2018 (12) TMI 825 - AT - Income TaxCarry forward of either the current year loss or that of earlier year loss denied to assessee trust - assessee satisfies the condition for exemption u/s. 11 and 12 - AO was of the view the loss suffered during the year was on account of capital expenditure and therefore loss cannot allowed to be carried forward - Held that:- Respectfully following the Coordinate Bench order of the Tribunal in assessee’s own case passed in assessment year 2008-09 AND SUBROS EDUCATIONAL SOCIETY [2018 (4) TMI 1622 - SUPREME COURT OF INDIA] which is identical to the facts of the instant case, hence, we quash the orders of the lower authorities and allow the carried forward of current year’s loss to be set off in the future years. It is ordered accordingly. - Decided in favour of assessee.
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