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Global Institute of Technology Society Versus Income-tax Officer, Ward 4 (2) , Jaipur

2012 (3) TMI 589 - ITAT JAIPUR

Exemption under section 11 - Held that:- We find that assessee deserves to succeed in this ground. We have seem various assessment orders for earlier years, copies of which are placed on record and found that the respective assessing officers had all .....

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osses to the assessee against the income of the assessee. - For the year under consideration there was a positive income and, therefore, assessee has filed its return showing the income of the year, exemption under section 11 of the Act has also .....

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8 is allowed in its favour then other grounds will become academic in nature. Since we have allowed this ground in favour of the assessee, therefore, all other grounds having become academic in nature and has become infructuous, they are dismissed. - .....

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st the order of ld. CIT (A) relating to assessment year 2008-09. 2. Various grounds i.e. 10 in number have been taken by the assessee in its appeal. The ld. Counsel of the assessee stated that if Ground No. 8 is taken first and if the same is allowed .....

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sorbed depreciation under section 32(2) to the appellant society while not granting the benefit of exemption under section 11 of the Act. 4. Ground No. 9 is against charging of interest under section 234B which is consequential in nature. The AO will .....

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ion under section 11 neither it was allowed. It was also submitted that assessee applied for exemption of its income under section 10(23C)(vi) of the Act. The ld. Chief Commissioner of Income-tax vide his order dated 22.3.2006 had rejected the applic .....

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has allowed the loss to be carry forward. Attention of the Bench was drawn on various assessment orders placed in the paper book. 7. On the other hand, the ld. D/R stated that the issue may be decided on merit. 8. After considering the submissions a .....

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the net deficit to be carried forward in the respective assessment order. Therefore, there is no reason in not allowing the benefit of carry forward losses/deficit. Accordingly, we direct the AO to allow the benefit of quantified carry forward losses .....

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