TMI Blog2016 (2) TMI 1010X X X X Extracts X X X X X X X X Extracts X X X X ..... e current’s assessed deficit for set-off in the subsequent years - Held that:- The said direction of the CIT(Appeals) is very much in line with the decision of the Hon’ble Bombay High Court in the case of Institute of Banking Personnel Selection (supra) and on this aspect also no error can be found with the decision of the CIT(Appeals), which I hereby affirm. - ITA No. 3837/MUM/2015 - - - Dated: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ning multi-speciality tertiary care hospital with special emphasis on Cardiology, Rehabilitation, etc. The Assessing Officer finalized the assessment under section 143(3) at a loss/deficit of ₹ 10,79,22,100/- as against the returned deficit/loss of ₹ 42,56,37,595/-. In the course of assessment proceedings, the Assessing Officer denied the assessee s claim for depreciation on assets on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lowing decisions also support the proposition approved by the Hon ble Bombay High Court:- 1. ITO vs. Bai Kabibai Hansraj Moraji Charity Trust, ITA No.5842/M/2011. 2. DIT vs. Framjee Cawasjee Institute- 49 taxmann.com 22 (Bombay HC) 3. ACIT vs. Shri Adichunchanaagiri Shikshana Trust, 19 ITR (T) 828 (4) CIT vs. Market Committee 330 ITR 16 (P H, HC) For the reason that the decision ..... X X X X Extracts X X X X X X X X Extracts X X X X
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