TMI Blog2014 (1) TMI 985X X X X Extracts X X X X X X X X Extracts X X X X ..... uent year will have to be regarded as application of the income of the trust for charitable and religious purpose - Assessee has been permitted to carry forward the losses and also to claim set off such losses against the income in earlier AYs, which has been accepted by Revenue - Decided in favour of assessee. - I.T.A .No.-290/Del/2012 - - - Dated:- 17-1-2014 - Shri R. S. Syal And Shri Rajpal Yadav,JJ. For the Petitioner : Mr. V. Rajkumara, Adv. For the Respondent : Ms. Sudha Kumari, CIT. DR ORDER Per R. S. Syal, AM. This appeal by the assessee is directed against the order passed by the ld. CIT (Appeals) on 20.09.2011 in relation to the Assessment Year 2008-09. 2. Following two grounds have been raised in this appea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee was not entitled to carry forward amount of expenditure over the income to the next year. Thus the claim of carry forward was rejected and the income was computed at 'Nil'. The assessee remained unsuccessful before the ld. CIT (A) as well. 4. We have heard the rival submissions and perused the relevant material on record. It is observed that the assessee's appeal for the AY 2006-07 came up for adjudication before the Tribunal in ITA No. 1665/Del/2012. Identical grounds were raised in such year which have been reproduced by the Tribunal in para 3 of its order dated 29.6.2012, a copy which has been placed on record. After considering the rival contentions, the Tribunal has upheld the assessee's view point in the matter of carry forward. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the tribunal has been reversed or modified in any manner by the Hon'ble High Court. Respectfully following the precedent, we hold in principle that the assessee is entitled to carry forward the amount of brought forward losses along with loss incurred for the current year. 6. The ld. DR has also pointed out certain factual inaccuracies in the computation of loss by the assessee for the current year. We direct the AO to verify the correct amount of the loss for the current year and then work out the correct amount of loss to be carried forward for the current year as well as earlier years by considering the decision taken by the Tribunal for such earlier years. As such the impugned order is set aside and the matter is restored to the file ..... X X X X Extracts X X X X X X X X Extracts X X X X
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